11. Tyler Toys has beginning inventory for the year of $18,000. During the year, Tyler purchases inventory for $230,000 and has cost of goods sold equal to $233,000. Tyler's ending inventory equals:
A. $15,000.
B. $18,000.
C. $21,000.
D. $19,000.
12. Inventory records for Dunbar Incorporated revealed the following:
Dunbar sold 700 units of inventory during the month. Ending inventory assuming LIFO would be:
A. $500.
B. $490.
C. $470.
D. $480.
13. Inventory records for Dunbar Incorporated revealed the following:
Dunbar sold 700 units of inventory during the month. Cost of goods sold assuming LIFO would be:
A. $1,730.
B. $1,700.
C. $1,720.
D. $1,710.
14. Inventory records for Dunbar Incorporated revealed the following:
Dunbar sold 700 units of inventory during the month. Ending inventory assuming FIFO would be:
A. $500.
B. $490.
C. $470.
D. $480.
15. Inventory records for Dunbar Incorporated revealed the following:
Dunbar sold 700 units of inventory during the month. Cost of goods sold assuming FIFO would be:
A. $1,730.
B. $1,700.
C. $1,720.
D. $1,710.
16. Inventory records for Dunbar Incorporated revealed the following:
Dunbar sold 700 units of inventory during the month. Ending inventory assuming weighted-average cost would be (round weighted-average unit cost to four decimals if necessary):
A. $502.
B. $490.
C. $489.
D. $480.
17. Inventory records for Dunbar Incorporated revealed the following:
Dunbar sold 700 units of inventory during the month. Cost of goods sold assuming weighted-average cost would be (round weighted-average unit cost to four decimals if necessary):
A. $1,711.
B. $1,700.
C. $1,720.
D. $1,708.
18. Inventory records for Marvin Company revealed the following:
Marvin sold 2,300 units of inventory during the month. Ending inventory assuming LIFO would be:
A. $5,040.
B. $5,055.
C. $5,075.
D. $5,135.
19. Inventory records for Marvin Company revealed the following:
Marvin sold 2,300 units of inventory during the month. Ending inventory assuming FIFO would be:
A. $5,140.
B. $5,080.
C. $5,060.
D. $5,050.
20. Inventory records for Marvin Company revealed the following:
Marvin sold 2,300 units of inventory during the month. Ending inventory assuming weighted-average cost would be (round weighted-average unit cost to four decimals if necessary):
A. $5,087.
B. $5,107.
C. $5,077.
D. $5,005.
