Use This Information to Answer the Following Question

question 130

Multiple Choice

Use this information to answer the following question.
A periodic inventory system is used.
-Using the specific identification method and assuming that 50 of the items left are from the October 13 purchase and the rest are from the October 20 purchase,the cost assigned to ending inventory is

• A)$3,840.
• B)$3,312.
• C)$3,372.
• D)$3,176.

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Definitions:

World Price

The international price at which goods are traded between countries, influencing domestic prices and the balance of trade.

Comparative Advantage

The ability of a country or entity to produce a specific good or service at a lower opportunity cost than others, leading to specialization in trade.

Tires

Rubber-based components that fit around the rims of wheels to provide vehicles with traction, support, and a cushion from the impact of the road.

Microchips

Small semiconductor devices containing electrical circuits that can perform calculations or store data.