Use the Following Information for Questions Below
a Company

question 49

Multiple Choice

Use the following information for questions below
A company had the following inventory activity during May:
$\begin{array}{lrccc}&\text { Units }& \text { Unit Cost } & \text { Total Cost } & \text { Unit Price } \\\hlineBeginning~ inventory&100 & \$ 20.00 & \$ 2,000 & \\Purchase: ~November~3&900 & \$ 21.00 & 18,900 & \\Sale: \quad November ~5&(900) & & & \$ 30.00 \\Purchase: November ~15&1,000 & \$ 21.00 & 21,000 & \\Sale: \quad November~ 28&(900) & & & \$ 30.00\end{array}$
-If the company uses a perpetual system and the FIFO cost formula,what is the gross margin on the November 5 sale?

• A)$6,100
• B)$8,100
• C)$8,200
• D)$8,550

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Cyber Crime Act

Legislation that defines illegal activities conducted via the internet or electronic networks and outlines penalties for violators.

Probable Cause

Reasonable grounds to believe the existence of facts warranting certain actions, such as the search or arrest of a person.

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An action or omission that is probable to be considered criminal under the law.

Substantial Likelihood

A significant probability or chance of a particular outcome or event happening, often requiring action or consideration in legal contexts.