Pasquale Has the Following Inventory Information A Physical Count of Merchandise Inventory on July 31 Reveals

question 80

Multiple Choice

Pasquale has the following inventory information. $\begin{array}{rllr}\text { July } 1 & \text { Beginning Inventory } & 20 \text { units at } \$ 19 & \$ 380 \\7 & \text { Purchases } & 70 \text { units at } \$ 20 & 1,400 \\22 & \text { Purchases } & 10 \text { units at } \$ 24 & 240\\& & &\$2,020\end{array}$ A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the LIFO inventory method the amount allocated to cost of goods sold for July is

• A) $1390.
• B) $1414.
• C) $1470.
• D) $1440.

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Definitions:

Central Nervous System

The part of the nervous system consisting of the brain and spinal cord, responsible for processing and sending out neural signals.

Autonomic Nervous System

Part of the peripheral nervous system that controls involuntary bodily functions such as heart rate, digestion, and respiratory rate.

Motor Nerves

Nerves that transmit impulses from the central nervous system to muscles, causing them to contract and enable movement.

Central Nervous System

The part of the nervous system consisting of the brain and spinal cord, which integrates information it receives from, and coordinates and influences the activity of, all parts of the bodies of bilaterally symmetric animals.