Use the Following Information for Questions

question 57

Multiple Choice

Use the following information for questions
A company just starting its business made the following four inventory purchases in June:
On June 25, the company made its first sale when a local customer purchased 500 units for $3,500.The company uses a perpetual inventory system.
-Using the FIFO cost formula, the amount of the cost of goods sold for June is

• A)$645.
• B)$695.
• C)$1,650.
• D)$1,700.

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Definitions:

Media Richness

Refers to the capacity of a communication medium to effectively convey information and transmit meaning.

Instant Messages

Digital communications that occur in real-time between two or more people over the internet.

Face To Face

Direct interaction between two or more individuals in the same physical space, often seen as more personal and effective for certain types of communication.

Input Technologies

Input technologies are tools and devices that allow users to input data into computers or other electronic systems, such as keyboards, mice, touchscreens, and voice recognition systems.