Use the Following Information for Questions

question 93

Multiple Choice

Use the following information for questions.
Tehran Ltd.uses FIFO to cost its inventory.The following information is available for Tehran's inventory of product # 101:
-Assuming Tehran uses the periodic inventory system, the entry to account for the March 1 purchase is

• A)debit Inventory and credit Accounts Payable, $875.
• B)debit Purchases and credit Accounts Payable, $875.
• C)debit Accounts Payable and credit Purchases, $875.
• D)debit Accounts Payable and credit Inventory, $875.

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Definitions:

Common Threat

A shared danger or challenge that brings individuals or groups together to collaborate on finding a solution or to defend against the threat.

Group's Attractiveness

The quality that makes a group appealing or desirable to potential or current members based on factors like cohesion, prestige, and goal achievement.

Group Attractiveness

This refers to the perceived desirability of belonging to a particular group, influenced by factors like the group's status, achievements, and camaraderie.

Similarity Of Members

The degree to which individuals in a group or team share common characteristics, experiences, or backgrounds.