A Company Just Starting in Business Purchased Three Merchandise Inventory

question 28

Multiple Choice

A company just starting in business purchased three merchandise inventory items at the following prices.First purchase $80; Second purchase $95; Third purchase $85.If the company sold two units for a total of $270 and used FIFO costing, the gross profit for the period would be

• A)$95.
• B)$105.
• C)$90.
• D)$80.

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Definitions:

Generalization Gradient

Refers to the decrease in response strength as stimuli become less similar to the conditioned stimulus in classical or operant conditioning.

Discriminative Stimulus

A stimulus in the presence of which a particular response will be reinforced, and in the absence of which that response will not be reinforced.

Reinforcement

An event (or termination of an event) that increases the frequency of the operant behavior that preceded it.

Attentional View

A theoretical perspective focused on how individuals allocate their attentional resources among various stimuli or tasks.