Which of the Following Sales Would Be Covered by Article

question 39

Multiple Choice

Which of the following sales would be covered by Article 2 of the UCC?

• A)the sale of intangible goods
• B)the sale of tangible goods
• C)the sale of real estate
• D)the sale of stocks

---

Definitions:

First-In-First-Out (FIFO)

An inventory valuation method where the first items produced or acquired are the first to be sold or used, reflecting the chronological flow of goods.

Weighted-Average Method

An inventory costing method that assigns a weighted average cost to each unit in inventory, used in both periodic and perpetual inventory systems.

Cost Control

The practice of managing and reducing business expenses through efficient operations and spending.

Weighted-Average Method

Inventory costing method that calculates the cost of goods sold and ending inventory based on the weighted average cost of all materials purchased during a period.