Use the Following Information for Questions:
Berenger Industries Had the Following

question 1

Multiple Choice

Use the following information for questions:
Berenger Industries had the following activity with one of its inventory items during the current period: $\begin{array}{llrr}&\text { Units } & \text {Unit Cost }\\\hline\text { Beginning inventory } & 30 & \$ 8.00 \\\text { Purchase } & \text { October 5 } & 80 & 10.50 \\\text { Sale } & \text { October 11 } & (40) & \\\text { Purchase } & \text { October 17 } & 60 & 12.00 \\\text { Sale } & \text { October 26 } & (70) &\end{array}$
-Using a perpetual inventory system and the moving average cost flow assumption, the cost of goods sold for the October 11 sale was closest to:

• A)$540
• B)$420
• C)$393
• D)$370

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Definitions:

Glands Ducts

Glands ducts are tubes through which glands secrete their products, such as hormones or enzymes, to their intended site of action or use.

Compound

Substance composed of two or more different types of atoms that are chemically combined.

Simple

In biological terms, this often relates to structures that are uncomplicated in form, such as simple tissues that consist of a single type of cell.

Endocrine Glands

Organs that secrete hormones directly into the bloodstream to regulate various body functions.