Eloise Corp What Is the Cost of Ending Inventory for Eloise Corp

question 8

Multiple Choice

Eloise Corp. uses the FIFO retail inventory method and reports the following information:
$\begin{array}{c}\begin{array}{l}\underline{\text { Retail }} \\\$ 28,000 \\24,800\\1,000 \\3,000 \\400\end{array}\begin{array}{lll}\underline{\text {Cost}}\\ \$ 21,450 \\\\\\2,100\\\\\end{array}\begin{array}{lll}\\\text {Purchases}\\\text {Sales}\\\text {Net markups}\\\text {Beginning inventory}\\\text {Net markdowns} \end{array} \end{array}$


What is the cost of ending inventory for Eloise Corp.?

• A) $4,760
• B) $5,100
• C) $5,209
• D) $5,552

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Definitions:

Mucus

A thick, slippery substance produced by mucous membranes and glands to moisten and protect certain parts of the body, such as the respiratory tract.

Effluent

Wastewater or sewage that is discharged into the environment, typically from a treatment plant, septic system, or industrial process.

Semi-formed Stool

Stool that is softer than normal but not liquid, indicating a variation from the typical solid form due to dietary or health factors.

Descending Colon

The part of the large intestine that passes downward on the left side of the abdomen toward the rectum.