A Company Just Starting Business Made the Following Four Inventory

question 72

Multiple Choice

A company just starting business made the following four inventory purchases in June: $\begin{array}{lrlr}\text { June } 1 & 150 \text { units } & \$ 390 \\\text { June } 10 & 200 \text { units } & 585 \\\text { June } 15 & 200 \text { units } & 630 \\\text { June } 28 & 150 \text { units } & 510\\&&\$2,115\end{array}$ A physical count of merchandise inventory on June 30 reveals that there are 250 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for June is

• A) $683.
• B) $825.
• C) $1,290.
• D) $1,432.

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Definitions:

Organic Nitrogen

Nitrogen that is found in organic compounds, including proteins, nucleic acids, and other naturally occurring organic molecules.

Empowerment

Authorization and enablement; the awakening, liberation, and inspiration of people. Principles of empowerment include trust in people, investment in people, recognition of accomplishment, and decentralized decision making. Empowerment is closely associated with the concepts of democratic and participative leadership.

Metaphor

A figure of speech in which a word or phrase is applied to an object or action to which it is not literally applicable, often for comparison or symbolic purposes.

Leadership Success

The achievement of desired outcomes and objectives through effective guidance and direction of a group or organization.