Use the Following Data to Calculate the Cost of Ending

question 76

Multiple Choice

Use the following data to calculate the cost of ending inventory under the FIFO method. $\begin{array}{lll}15 \text { units at } \$ 20 \text { each } & \text { Beginning Inventory } & \text { September 1 } \\20 \text { units at } \$ 25 \text { each } & \text { Purchase } & \text { September 10 } \\25 \text { units at } \$ 28 \text { each } & \text { Purchase } & \text { September } 20 \\30 \text { units } & \text { Ending Inventory } & \text { September } 30\end{array}$

• A) $825
• B) $750
• C) $675
• D) $840

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Definitions:

EDD Scheduling Rule

"Earliest Due Date" scheduling rule, a prioritization principle that suggests completing tasks or serving customers in the order of their due dates, from earliest to latest.

SPT Scheduling Rule

Shortest Processing Time rule, a method for scheduling tasks that prioritizes those with the lowest processing time to minimize completion time.

LPT Scheduling Rule

A priority rule used in scheduling where jobs are ordered in descending order of their processing times.

Due Date

The specified date by which a task or project is expected to be completed or a payment is due.