Use the Following Information for Questions Below
a Company Had

question 68

Multiple Choice

Use the following information for questions below
A company had the following inventory activity during April:
$$\begin{array}{l}\text { }\\\begin{array} { l l l l l} &&\text {units }&\text { unit cost}&\text { total cost}\\\text { beginning}&\text {inventory }&800&\$10.00&\$8,000\\\text { purchase}&\text {april 6 }&1,400&11.00&15,400\\\text {sale }&\text {april }&(1,500) \\\text {purchase }&\text {april 17}&900&10.50&9,450\\\text {sale }&\text {april 24 }&(900) \\\end{array}\end{array}$$
-If the company is using a perpetual system and the FIFO cost formula,what is the cost of goods sold closest to?

• A)$25,700
• B)$25,500
• C)$25,200
• D)$25,930

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Definitions:

Sample Variance

A measure of variation or dispersion of a set of sample values, calculated as the average of the squared differences from the Sample Mean.

Variance

A statistical measure of dispersion, indicating how spread out the values of a dataset are.

Symbol

A mark or character used as a conventional representation of an object, function, or process.

Numerator

The top number in a fraction, indicating how many parts of a whole are being considered.