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:

Two-Tier System

A system divided into two distinct categories, often creating a hierarchy or a system of prioritization.

Privatized Health Care

A health care system where services are provided by private entities rather than the government.

Inequality of Access

A situation where individuals or groups have unequal opportunities to utilize resources, services, or positions due to various socioeconomic barriers.

Health Care Services

Professional services provided by medical practitioners and healthcare institutions aimed at maintaining, improving, or managing human health.