A Company Just Starting Business Made the Following Four Inventory

question 130

Multiple Choice

A company just starting business made the following four inventory purchases in June: $$\begin{array} { r r r r } \text { June } & 1 & 150 \text { units } & \$ 390 \\\text { June } & 10 & 200 \text { units } & 598 \\\text { June } & 15 & 200 \text { units } & 630 \\\text { June }& 28 & 150 \text { units } & \underline { 510 } \\& & & \underline { \$ 2,128 }\end{array}$$ A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the FIFO inventory method the amount allocated to cost of goods sold for June is

• A) $540.
• B) $668.
• C) $1460.
• D) $1588.

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Definitions:

Double-blind Procedure

A research method in which neither the participants nor the experimenters know who is receiving a particular treatment, to prevent bias.

Memory-enhancing Drug

A memory-enhancing drug is any substance that is claimed to improve memory, cognitive function, or facilitate accelerated learning.

Research Participants

Individuals who take part in a scientific study or experiment, contributing data through their responses or behaviors.

Psychological Therapy

A treatment method for mental and emotional disorders which uses psychological techniques designed to encourage communication of conflicts and insight into problems.