Figure 2-4.Junko Company makes financial calculators. During the year Junko manufactured 97,000 financial calculators. Finished goods inventory had the following units on hand:

-Refer to Figure 2-4. If each financial calculator had a per-unit product cost of $112, what was the cost of Finished goods inventory on December 31?
A) $116,480
B) $141,120
C) $24,640
D) none of these are correct

Question

Figure 2-4.Junko Company makes financial calculators. During the year Junko manufactured 97,000 financial calculators. Finished goods inventory had the following units on hand:
 
-Refer to Figure 2-4. If each financial calculator had a per-unit product cost of $112, what was the cost of Finished goods inventory on December 31?
A) $116,480 
B) $141,120 
C) $24,640 
D) none of these are correct

Quizplus · Accepted Answer

Finished goods inventory = 1,030 units * $112 per unit = $116,480