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Method for a Periodic Inventory System, Rounding to the Nearest

Question 33

Multiple Choice

method for a periodic inventory system, rounding to the nearest dollar. (Do not round in the process of your calculations, only round your final answer.)
1/1 Beginning inventory 50 units at $10 per unit 3/5 Purchases 30 units at $14 per unit 5/30 Purchases 25 units at $15 per unit 10/25 Purchases 20 units at $16 per unit 12/31 Ending inventory 45 units \begin{array} { l l l } 1 / 1 & \text { Beginning inventory } & 50 \text { units at } \$ 10 \text { per unit } \\3 / 5 & \text { Purchases } & 30 \text { units at } \$ 14 \text { per unit } \\5 / 30 & \text { Purchases } & 25 \text { units at } \$ 15 \text { per unit } \\10 / 25 & \text { Purchases } & 20 \text { units at } \$ 16 \text { per unit } \\12 / 31 & \text { Ending inventory } & 45 \text { units }\end{array}


A) $581
B) $720
C) $619
D) $450

Correct Answer:

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