Goodman Company's Inventory Records Show the Following Data A Physical Inventory on December 31 Shows 6,000 Units on Units

question 166

Multiple Choice

Goodman Company's inventory records show the following data: $\begin{array}{lrr}&\text { Units }& \text { Unit Cost }\\\text {Inventory, January 1 } & 10,000 & \$ 9.00 \\\quad \quad \text {Purchases: June 18 } & 9,000 & 8.20 \\\quad \text { November 8 } & 6,000 & 7.00\end{array}$ A physical inventory on December 31 shows 6,000 units on hand. Under the FIFO method, the December 31 inventory is

• A) $42,000.
• B) $49,200.
• C) $49,392.
• D) $54,000.

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Definitions:

Cocaine

A powerful and illegal stimulant drug derived from the leaves of the coca plant, which can cause significant health and legal issues.

Illegal

Activities or actions that are forbidden by law and subject to criminal penalties or fines.

Opportunity Cost

The value of the next best alternative that is foregone when making a decision.

Alternative Option

A different course of action or choice available to individuals or organizations, often considered when the primary option is deemed unsuitable or unavailable.