A Company Had the Following Purchases During the Current Year

question 84

Multiple Choice

A company had the following purchases during the current year: On December 31, there were 26 units remaining in ending inventory. These 26 units consisted of 2 from January, 4 from February, 6 from May, 4 from September, and 10 from November. Using the specific identification method, what is the cost of the ending inventory?

• A) $3,500.
• B) $3,800.
• C) $3,960.
• D) $3,280.
• E) $3,640.

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Definitions:

Act Consequentialists

Philosophical stance where the morality of an action is judged solely by its consequences.

Hedonists

Individuals who believe that pleasure or happiness is the primary goal of life.

Ethical Moralists

Philosophers or thinkers who base their ethical theories on principles of moral goodness.

Utilitarians

Advocates of utilitarianism, the ethical theory that posits the greatest happiness for the greatest number as the foundation of morals and legislation.