Gene's Used Cars Uses the Specific Identification Method of Costing

question 43

Multiple Choice

Gene's Used Cars uses the specific identification method of costing inventory.During March, Gene purchased three cars for $5,000, $6,500, and $8,000, respectively.During March, two cars are sold for $7,500 each.Gene determines that at March 31, the $8,000 car is still on hand.What is Gene's cost of goods sold for March?

• A)$8,000
• B)$11,500
• C)$14,500
• D)$15,000

---

Definitions:

Constructionists

Advocates of constructionism, a theory that suggests knowledge and reality are not objective but constructed by societal or cultural contexts.

Social Control

Mechanisms, strategies, and institutions society uses to regulate individual and group behavior, aiming to conform to norms and rules.

Biological Aspects

Features or characteristics relating to the biology or the physical body of living organisms.

Actively Seeking

The process of diligently searching or pursuing something, such as employment or information.