Use the Following Information for Questions 62-64

question 32

Multiple Choice

Use the following information for questions 62-64.
A company had the following inventory activity during May:
-If the company uses a perpetual system and the FIFO cost formula, what is the gross margin on the May 5 sale closest to?

• A) $6,100
• B) $8,100
• C) $8,200
• D) $8,550

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Definitions:

Thought Patterns

The habitual ways in which one tends to think or process information, which can influence behavior and emotions.

Psychoanalysis

A therapeutic technique and theory of psychological disorders, emphasizing unconscious conflicts and childhood experiences.

Cognitive Therapies

Psychological treatments that focus on changing faulty or irrational thinking patterns, beliefs, and attitudes.

Systematic Desensitization

A therapeutic method used to cure phobias and other behavior problems involving anxiety, by gradual exposure to the feared object or situation in a controlled environment.