Sampe Company Has the Following Data Available If Sampe Company Uses a Perpetual FIFO Inventory System, the l

question 57

Multiple Choice

Sampe Company has the following data available: $$\begin{array} { | l | c | c | c | } \hline \text { Transaction } & \text { Units Purchased } & \text { Unit Cost } & \text { Units Sold } \\\hline \text { Beginning Inventory } & 400 & \$ 10 & \\\hline \text { March 1 Purchase } & 200 & \$ 13 & \\\hline \text { April 25 Sale } & & & 350 \\\hline \text {June 10 Purchase } & 300 & \$ 14 & \\\hline \text { July 20 Sale } & & & 250 \\\hline \text { October 30 Purchase } & 350 & \$ 18 & \\\hline \text { December 15 Sale } & & & 400 \\\hline\end{array}$$
If Sampe Company uses a perpetual FIFO inventory system, the cost of goods sold for the year is ________.

• A) $13,950
• B) $12,350
• C) $12,600
• D) $10,000

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Definitions:

Rate of Return

The increase or decrease in value of an investment during a specific time frame, represented as a proportion of the investment's initial cost.

Compounded Annually

Interest on an investment is calculated once per year and added to the principal, allowing the investment to grow at an increasing rate.

Investments

Resources allocated with the intention of generating future benefits, such as income or revenue growth.

Graph

A visual representation of data, showing relationships between two or more variables typically on two axes.