Assume That Three Identical Units of Merchandise Were Purchased During

question 140

Essay

Assume that three identical units of merchandise were purchased during October, as follows:?? $$\begin{array} { | l | c | c | c | r |} \hline & & & \text { Units } & \text { Cost } \\\hline \text { Oct. } & 5 & \text { Purchase } & 1 & \$ 5 \\\hline & 12 & \text { Purchase } & 1 & 13 \\\hline & 28 & \text { Purchase } & \underline { 1 } & \underline { 15 } \\\hline \text { Total } & & & \underline { \mathbf { 3 } } & \underline { \underline { \mathbf { 3 3 } } } \\\hline\end{array}$$ Assume one unit is sold on October 31 for $28. Determine cost of merchandise sold, gross profit, and ending inventory under the average cost method.

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Definitions:

Thin Slices

Brief observations of another person's behavior that allow for quick and sometimes accurate judgments about their personality or state.

Personal Attributions

People’s explanations for why events or actions occur that refer to people’s internal characteristics, such as abilities, traits, moods, or efforts.

Trustworthiness

The quality of being reliable, honest, and deserving of trust.

Interest

A feeling of curiosity or concern about something, leading to a desire to learn more or engage with it.