Laser Listening Has the Following Inventory Data A Physical Count of Merchandise Inventory on November 30 Reveals

question 116

Multiple Choice

Laser Listening has the following inventory data: $\begin{array}{rll}\text { Nov. } 1 & \text { Inventory } & 30 \text { units } @ \$ 6.00 \text { each } \\8 & \text { Purchase } & 120 \text { units } @ \$ 6.45 \text { each } \\17 & \text { Purchase } & 60 \text { units } @ \$ 6.30 \text { each } \\25 & \text { Purchase } & 90 \text { units } @ \$ 6.60 \text { each }\end{array}$ A physical count of merchandise inventory on November 30 reveals that there are 100 units on hand. Assuming that the specific identification method is used and that ending inventory consists of 30 units from each of the three purchases and 10 units from the November 1 inventory, cost of goods sold is

• A)$640.
• B)$1,286
• C)$1,281
• D)$1,254

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Definitions:

Pluralistic Ignorance

A social psychological phenomenon where individuals mistakenly believe their thoughts, feelings, or behaviors are different from those of the group, leading to conformity despite private disagreement.

Social Value Orientation

An individual's preferences when allocating resources between oneself and others, which can influence behavior in social situations.

Competitive

A characteristic of entities that strive against each other to achieve a goal, such as winning a game or dominating a market.

Altruistic

Showing selfless concern for the well-being of others; behaviors or actions motivated by the desire to help without expecting anything in return.