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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Definitions:

Plaintiffs Prevail

Refers to a legal outcome where the party filing the lawsuit (plaintiffs) win the case.

Settlement

An agreement reached between parties in a dispute, often outside of court, to resolve claims without further litigation.

Structured Settlement Process

A legal agreement to pay someone who has won a lawsuit a sum of money in multiple installments over time rather than in a single lump sum.

Limited Discovery

A pre-trial procedure in a lawsuit in which each party can obtain evidence from the other party or parties by means of discovery devices but with limitations set by the court.