Assume That Three Identical Units of Merchandise Are Purchased During

question 203

Essay

Assume that three identical units of merchandise are purchased during October, as follows: $$\begin{array} { | l | l | l | l | l | } \hline & & & \text { Units } & \text { Cost } \\\hline \text { October } & 5 & \text { Purchase } & 1 & \$ 5 \\\hline & 12 & \text { Purchase } & 1 & 13 \\\hline & 28 & \text { Purchase } & 1 & 15 \\\hline \text { Total } & & & 3 & \$ 33 \\\hline\end{array}$$ Assume one unit is sold on October 31 for $28. Determine cost of merchandise sold, gross profit, and ending inventory under the FIFO method.

---

Definitions:

Avoid

To keep away from or stop oneself from doing something, often due to apprehension or danger.

Motivated Reasoning

The process by which individuals form and cling to beliefs even in the face of contrary evidence, often driven by emotional investments in those beliefs.

Violent Media

Media content that depicts acts of physical aggression, harm, or violence towards individuals or groups.

Aggressive Behavior

Actions or responses aimed at causing harm or asserting dominance, which can be physical or verbal in nature.