Use the Following Information for Questions

question 51

Multiple Choice

Use the following information for questions
A company just starting its business made the following four inventory purchases in June:
On June 25, the company made its first sale when a local customer purchased 500 units for $3,500.The company uses a perpetual inventory system.
-Using the FIFO cost formula, the cost of the ending inventory on June 30 is

• A)$645.
• B)$695.
• C)$1,650.
• D)$1,700.

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Definitions:

Inconsistent Behavior

Actions or responses that vary significantly over time or across situations, lacking predictability.

Attitudes

A settled way of thinking or feeling about something or someone, typically reflected in a person's behavior or expressed viewpoints.

True Emotions

Genuine feelings that reflect one's actual emotional state, as opposed to emotions that are displayed for effect or manipulation.

Tolerate

The capacity to accept or endure someone or something, especially differing opinions or behavior, without adverse reaction.