Calculate the Cost of Ending Inventory Using FIFO Method A) $800
B) $760
C) $580
D) $500

question 40

Multiple Choice

Calculate the cost of ending inventory using FIFO method. $\begin{array}{lll}10 \text { units at } \$ 10 \text { each } & \text { Beginning inventory } & 1 / 1 \\40 \text { units at } \$ 12 \text { each } & \text { Purchase } & 2 / 28 \\50 \text { units at } \$ 14 \text { each } & \text { Purchase } & 5 / 10 \\30 \text { units at } \$ 16 \text { each } & \text { Purchase } & 9 / 20 \\50 \text { units } & \text { Encling inventory } & 12 / 31\end{array}$

• A) $800
• B) $760
• C) $580
• D) $500

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Definitions:

Spinal Cord

A long bundle of neurons that carries messages between the body and the brain and is responsible for very fast, lifesaving reflexes.

Size Constancy

A perceptual process by which humans perceive objects as having a constant size, despite changes in the distance from which we view them.

Retinal Disparity

The slight difference in the images projected on the two retinas, which contributes to depth perception in binocular vision.

Stereopsis

The perception of depth and three-dimensional structure obtained on the basis of visual information deriving from two eyes by individuals with normally developed binocular vision.