Florida Inc Uses a Periodic Inventory System with the Weighted

question 35

Multiple Choice

Florida Inc uses a periodic inventory system with the weighted average method of cost assignment.The following data are available: $\begin{array}{lllll}&&&& \text { Total }\\&\text { Date }&\text { Units }&\text { Unit Cost }&\text { Cost }\\\text { Beginning Inventory } & \text { Jan 1 } & 2000 & \$ 6 & \$ 12000 \\\text { Purchase } & \text { Mar 13 } & 4000 & \$ 7 & \$ 28000 \\\text { Purchase } & \text { June 20 } & 6000 & \$ 8 & \$ 48000 \\\text { Ending Inv entory } & \text { Dec } 31 & 1000 & &\end{array}$ The cost of the ending inventory to the nearest dollar is:

• A)$8333
• B)$8000
• C)$7300
• D)$6000

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Definitions:

Funder and Colvin

Psychologists who proposed the Realistic Accuracy Model (RAM) of personality judgment, emphasizing the importance of accurate observations for making precise evaluations about others.

Power of the Situation

The concept that the environment or situational context can strongly influence individuals' behavior, often more than their personal traits.

Interaction

The process by which two or more entities influence each other's actions; in social contexts, it involves communication and behavior among individuals or groups.

Relaxed

A state or condition of being free from tension and anxiety.