On June 1, Corona Company Had 40 Units of Inventory

question 67

Multiple Choice

On June 1, Corona Company had 40 units of inventory at a cost of $6 each.June purchases and sales were as follows: $\begin{array}{llll}&\text { Purchases }&&\text { Sales }\\ \text { June } 5 & 10 \text { units } @ \$ 8 & \text { June } 4 & 20 \text { unit } \\12 & 20 \text { units } @ \$ 10 & 20 & 12 \text { unit }\\25& 10 \text { units } \$ 16\end{array}$
The cost of goods sold during June was $272.Corona must use:

• A)FIFO
• B)LIFO perpetual
• C)weighted average
• D)LIFO periodic

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Definitions:

Start-up

A new business venture in its early stages, typically characterized by high uncertainty and potential for growth.

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A multinational technology company specializing in Internet-related services and products, including online search, advertising, and software.

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An international coffee company and coffeehouse chain known for its specialty coffee and espresso drinks.

Start-up

A company in the early stages of its operations, often innovating in its industry or market with high growth potential.