Use the Following Information to Answer the Following Questions

question 44

Multiple Choice

Use the following information to answer the following questions.
The Boxwood Company sells blankets for $60 each.The following was taken from the inventory records during May.The company had no beginning inventory on May 1.

Assuming that the company uses the perpetual inventory system,determine the ending inventory value for the month of May using the FIFO inventory cost method.

• A)$364
• B)$372
• C)$324
• D)$320

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Definitions:

Temporalis Muscle

A broad, fan-shaped muscle on each side of the head that assists in chewing by elevating the mandible to close the mouth.

Paired

Refers to something that comes in a set of two, used together or connected in some way.

Temporal

relates to time or the sequential order of events.

Vomer

A thin, flat bone forming the lower part of the nasal septum, which divides the left and right airways in the nose.