June CorpSells One Product and Uses a Perpetual Inventory System

question 67

Multiple Choice

June Corp.sells one product and uses a perpetual inventory system.The beginning inventory consisted of 10 units that cost $20 per unit.During the current month, the company purchased 60 units at $20 each.Sales during the month totaled 45 units for $43 each.What is the number of units in the ending inventory?

• A)10 units.
• B)15 units.
• C)25 units.
• D)70 units.

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Definitions:

Defamation

A false communication that injures someone's reputation, either through written statements (libel) or spoken statements (slander).

Negligence Per Se

A doctrine that allows a judge or jury to infer duty and breach of duty from the fact that a defendant violated a criminal statute that was designed to prevent the type of harm that the plaintiff incurred.

Modified Comparative Negligence

A defense accepted in some states whereby the defendant is not liable for the percentage of harm that he or she can prove is due to the plaintiff’s own negligence if the plaintiff’s negligence is responsible for less than 50 percent of the harm; if the defendant establishes that the plaintiff’s negligence caused more than 50 percent of the harm, the defendant has no liability.

Intentional Interference

Deliberate actions taken to disrupt or harm another party's contractual or business relationships.