A Firm That Sells a Single Product Had a Beginning

question 69

Multiple Choice

A firm that sells a single product had a beginning inventory of 4,000 units with a total cost of $28,000.Early in the year,10,000 units were purchased at $9 each.Using FIFO,what is the value of the ending inventory of 3,000 units?

• A) $27,000
• B) $24,000
• C) $21,000
• D) $36,000

---

Definitions:

Unpaid Labor

Work that is done without any form of remuneration or compensation, often maintaining households and supporting family members, contributing to the economy indirectly.

Second Shift

The phenomenon where individuals, often women, work a day job and then return home to perform domestic chores and caregiving, effectively working a "second shift."

Divorced Parents

Individuals who have legally ended their marriage and are no longer living together as spouses, often involving arrangements for co-parenting if children are involved.

Cohabitation

The living arrangement in which an unmarried couple resides together in a long-term relationship that resembles a marriage.