Given the Following Data, What Is Cost of Goods Sold

question 47

Multiple Choice

Given the following data, what is cost of goods sold as determined under the FIFO method?
$\begin{array} { l } \text { \text { Sales revenue }}& 350 \text { units at } \$ 35\\ \text {per unit Beginning inventory }&120\text { units } \\ \text {at \( \$ 15 \) per unit Purchases }&400 \\ \text { units at \( \$ 20 \) per unit }& \\\end{array}$

• A) $6,400
• B) $7,000
• C) $4,600
• D) $5,250

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Definitions:

Shivering

An involuntary response to cold involving rapid, rhythmic muscle contractions to generate heat and increase body temperature.

Dysrhythmia

An abnormality in a physiological rhythm, especially in the activity of the brain or heart.

Ventricles

The two lower chambers of the heart that receive blood from the atria above them and pump it out to the lungs and body, crucial for the circulatory system.

PVCs

Premature Ventricular Contractions, early heartbeats originating from the ventricles, causing irregular heart rhythms.