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.

---

Definitions:

Career

The pursuit of a lifelong ambition or the general course of progression towards lifelong goals.

Chapter

A division of a book typically with a number or title, often starting on a new page.

Employment History

A record of a person's work experience, including positions held, durations, and responsibilities.

Political Science

The study of politics, government systems, and political behavior.