Automobile Audio Has the Following Inventory Data A Physical Count of Merchandise Inventory on November 30 Reveals

question 80

Multiple Choice

Automobile Audio 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. Ending inventory under FIFO is

• A)$657
• B)$1,269
• C)$632
• D)$1,295

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Definitions:

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms, pressures, or expectations, often to fit in or gain approval from others.

Asch

Refers to Solomon Asch, a psychologist known for his pioneering research on social conformity, specifically how individuals align their opinions to match those of a group.

Group Size

Refers to the number of individuals forming a group, which could influence the group's dynamics and functionality.

Obedience

The act of following orders or instructions from an authority figure, sometimes studied in the context of social psychology experiments.