Priscilla Has the Following Inventory Information A Physical Count of Merchandise Inventory on July 31 Reveals

question 111

Multiple Choice

Priscilla has the following inventory information. $$\begin{array} { r l l r } \text { July } 1 & \text { Beginning Inventory } & 20 \text { units at } \$ 19 & \$ 380 \\7 & \text { Purchases } & 70 \text { units at } \$ 20 & 1,400 \\22 & \text { Purchases } & 10 \text { units at } \$ 23 & { 230 } \\&&&{ \$ 2,010 }\end{array}$$ A physical count of merchandise inventory on July 31 reveals that there are 35 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is

• A) $1,280.
• B) $1,287.
• C) $1,306.
• D) $1,330.

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Across Cultures

Pertaining to or involving the interaction or comparison of two or more different cultures.

Organizational Strength

The unique capabilities, resources, and positive attributes of an organization that give it a competitive advantage and enable successful performance.

Communication Competency

The ability to effectively convey, receive, and interpret messages, both verbally and non-verbally, in various contexts.

Circulatory System

The body's system responsible for the transport of blood, nutrients, gases, and wastes, comprising of the heart, blood, and blood vessels.