Inventory Records for Dunbar Incorporated Revealed the Following: Dunbar Sold

question 145

Multiple Choice

Inventory records for Dunbar Incorporated revealed the following: Dunbar sold 700 units of inventory during the month.Ending inventory assuming FIFO would be:
$$\begin{array} { | l | l | c r | } \hline & & \text { Number of } \\\text { Date } & \text { Transaction } & \text { Units } & \text { Unit Cost } \\\hline \text { Apr. } 1 & \text { Beginning inventory } & 500 & \$ 2.40 \\\hline \text { Apr. } 20 & \text { Purchase } & 400 & 2.50 \\\hline\end{array}$$

• A)$500.
• B)$490.
• C)$470.

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Definitions:

Feedback Signal

A signal that is sent back to control a system by comparing the output with the input, thus allowing for adjustments to achieve desired performance.

Process

A continuous manufacturing operation.

SCADA System

Supervisory Control and Data Acquisition system, a computer system for gathering and analyzing real-time data to monitor and control processes.

Real Time

Describes processes or systems that operate or provide output immediately as data is input, without noticeable delay.