Medina Corp

question 51

Multiple Choice

Medina Corp. uses the weighted average method for inventory costs and had the following information available for the year. The number of units transferred to finished goods during the year is:

• A) 3,200 units.
• B) 3,000 units.
• C) 3,400 units.
• D) 3,160 units.
• E) 3,500 units.

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Definitions:

MODE.MULT(data range)

A function in spreadsheet programs that returns an array of the most frequently occurring values in a given data range.

MODE.SNGL(data range)

A statistical function that returns the most frequently occurring value in a given data range.

Arithmetic Mean

The sum of a collection of numbers divided by the count of numbers in the collection, commonly known as the average.

Midrange

The statistical measure calculated by taking the average of the highest and lowest values in a data set.