Use This Information to Answer the Following Question

question 61

Multiple Choice

Use this information to answer the following question. A periodic inventory system is used.
Using the specific identification method and assuming that 50 of the items left are from the October 13 purchase and the rest are from the October 20 purchase,the cost assigned to ending inventory is

• A)$3,840.
• B)$3,312.
• C)$3,372.
• D)$3,176.

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Definitions:

Mean

The average of a set of numbers, calculated by adding them all up and dividing by the count of those numbers.

Median

The middle value in a data set when the values are arranged in ascending or descending order, or the average of the two middle values if there is an even number of values.

Skewed

Describes data that is not symmetrically distributed, often leaning more heavily towards one side of the scale.

Large Coffee Prices

The cost associated with purchasing larger sizes of coffee beverages from cafes or coffee shops.