The Following Data Applies to a Particular Item of Merchandise

question 1

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 last-in, first-out costing method, the cost of goods sold would be

• A) $8,390.
• B) $8,410.
• C) $2,530.
• D) $8,570.

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Definitions:

Behavior

The actions or reactions of an organism, often in response to its environment.

Health/Illness

The state of being well and free from disease (health) versus the condition of being physically or mentally unwell (illness).

Behavioral Pharmacology

The study of how drugs affect behavior, often focusing on the effects of psychiatric medications.

Psychoneuroimmunology

The study of how psychological processes, the nervous system, and the immune system interact and affect each other.