The Following Data Applies to a Particular Item of Merchandise

question 52

Multiple Choice

The following data applies to a particular item of merchandise: $\begin{array}{lrr}\text { On hand at start of period } & 300 & \$ 5.10 \\1^{\text {st }} \text { purchase } & 500 & 5.20 \\2^{\text {ndd }} \text { purchase } & 700 & 5.30 \\3^{\text {rd }} \text { purchase } & 600 & 5.50\\\text { Number of units available for sale } & 2,100 \\\text { On hand at end of period } & \underline{500} \\\text { Number of units sold during period } & \underline{1,600}\end{array}$ ? Of the 1,600 units sold during the period, 300 were from the beginning inventory; 500 from the first purchase; 600 from the second purchase; and 200 from the last purchase. Using the first-in, first-out costing method, the cost of goods sold would be

• A) $2,750.
• B) $8,390.
• C) $8,410.
• D) $8,570.

---

Definitions:

Ecology

The branch of biology that studies the interactions among organisms and their environments, encompassing both biotic and abiotic components.

Trophic Level

The position an organism occupies in a food chain, categorized by the number of energy transfer steps from primary producers to top predators.

Habitat

Place where an organism lives and is able to survive and reproduce.

Per Capita Rate

A statistical measure that expresses the quantity of something per individual person within a population or area.