A Company Had Beginning Inventory of 10 Units at a Cost

question 75

Multiple Choice

A company had beginning inventory of 10 units at a cost of $20 each on March 1.On March 2,it purchased 10 units at $22 each.On March 6 it purchased 6 units at $25 each.On March 8,it sold 22 units for $54 each.Using the FIFO perpetual inventory method,what was the cost of the 22 units sold?

• A)$470
• B)$490
• C)$450
• D)$570
• E)$520

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Definitions:

Communal Orientation

An attitude or approach focused on sharing and prioritizing communal goals and responsibilities over individual needs or achievements.

Collective Guilt

Feelings of guilt experienced by members of a group due to actions or misdeeds perceived as perpetrated by the group.

Communal Orientation

A personality trait or orientation characterized by a focus on the community and others, emphasizing cooperation and sharing.

Narcissism

A personality trait characterized by an excessive focus on oneself, a need for admiration, and a lack of empathy for others.