The Inventory on Hand at Year-End for Golen Enterprises Is

question 9

Multiple Choice

The inventory on hand at year-end for Golen Enterprises is: $\begin{array}{lcccc}\text { Inventory } & \text { Number } & \text { Original } & \text { Current Net } & \text { Current } \\\text { Item } & \text { of Units } & \text { Unit Cost } & \text { Selling Price } & \text { Replacement }\\&&&\text { per Unit } & \text { Cost per Unit } \\&&\$&\$&\$\\\mathrm{A} & 10 & 40 & 60 & 50 \\\mathrm{~B} & 8 & 70 & 60 & 65\end{array}$ At what amount should Golen report ending inventory if the lower of cost or net realisable value rule is applied to individual items?

• A)$960
• B)$880
• C)$1020
• D)$1160

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Definitions:

Different Languages

Refers to the variety of languages spoken or programmed around the world, emphasizing diversity in communication and coding.

Compiler

A program that understands both the syntax of the programming language and the exact structure of the CPU and its machine language.

Intermediate Form

A representation of a program partway between the source and machine code, used in compiling or interpreting the code.

Object-Oriented Programming

Object-oriented programming is a programming paradigm based on the concept of "objects," which are data structures that contain data, in the form of fields, and code, in the form of procedures, with the objective of increasing flexibility and maintainability.