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The Benchley Company Uses Metal Grates When Assembling Appliances

question 71

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The Benchley Company uses metal grates when assembling appliances.Information as to balances on hand,purchases,and requisitions of the grates is given in the following table. The Benchley Company uses metal grates when assembling appliances.Information as to balances on hand,purchases,and requisitions of the grates is given in the following table.   If a perpetual inventory record of the metal grates is maintained on a FIFO basis,what costs are assigned to the 150 units in ending inventory? A) 150 units @ $3.50 B) 15 units @ $3.50 and 135 units @ $3.24. C) 150 units @ $2.80. D) 15 units @ $3.50 and 135 units @ $2.80. If a perpetual inventory record of the metal grates is maintained on a FIFO basis,what costs are assigned to the 150 units in ending inventory?

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Definitions:

Outcomes

The possible results that may occur from a random experiment or occurrence.

Selections

The process of choosing or selecting from a group of alternatives.

Individuals

Refers to the subjects or entities being studied in a statistical or research context.

Mutually Exclusive Events

Two or more events that cannot occur at the same time in any given experiment or real-world situation.

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