Chapt 5 - Version A Important: PRINT your responses in the...

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Version A Important: PRINT your responses in the space provided next to each question. For the following Multiple Choice Questions, identify the letter of the choice (A,B,C, D or E) that best completes the statement or answers the question. ____ 1. Irene Sporting Goods had the following inventory records for running shoes for the month of January: Beginning inventory 70 pairs @ $100 per pair Sales, Jan. 1 - Jan. 7 50 pairs Purchase, Jan. 8 46 pairs @ $104 per pair Sales, Jan. 9 - Jan. 16 59 pairs Purchase, Jan. 17 62 pairs @ $110 per pair Sales, Jan. 18 - Jan. 29 56 pairs Purchase, Jan. 30 18 pairs @ $112 per pair Assuming the perpetual FIFO inventory method is used, what is the cost of Irene’s ending inventory? A. $3,100 B. $3,276 C. $3,446 D. $3,376 E. $ 3,436 ____ 2. The inventory records of Hassell Company during January 2004 were as follows: Beginning inventory 10 units @ $23.60 January 6 purchase 4 units @ $25 January 10 sale 9 units @ $45 January 15 purchase 7 units @ $30 January 20 sale 10 units @$50 January 25 purchase 4 units @ $30 Using this information, the cost of ending inventory using the perpetual weighted average method is: A. $136 B. $144 C. $180 D. $175 E. $150 ____ 3. Green Sporting Goods Company’s ending inventory consisted of the following items: Items Units Cost per unit Market Value per unit
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Chapt 5 - Version A Important: PRINT your responses in the...

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