East Asia Inc

question 77

Multiple Choice

East Asia Inc., Hong Kong subsidiary of a US company, uses the periodic inventory system. At April 1, the inventory consisted of 600 units that cost HK$650 each. During the month, the company made two purchases: 900 units at HK$680 each and 450 units at HK$700 each. East Asia also sold 1,500 units during the month. Using the LIFO cost flow assumption, what is the amount of cost of goods sold for the month?

• A) HK$975,000.
• B) HK$1,002,000.
• C) HK$1,013,100.
• D) HK$1,024,500.

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Definitions:

Ganglion Cells

Neurons located in the retina that receive visual information from photoreceptors and transmit it to the brain via the optic nerve.

Interposition

A visual cue in which one object partially blocks another, helping to perceive depth and the relative position of objects.

Binocular Cues

Visual information taken in by two eyes that enable a person to gain a sense of depth and distance.

Pitch

The perceived frequency of a sound, determining whether it is high or low.