Use the Following Information for Questions

question 57

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 amount of the cost of goods sold for June is

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

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Definitions:

Group Insurance

A type of insurance plan that covers a defined group of people, typically employees of a business, offering benefits due to sickness, disability, or death.

HR Function

The set of responsibilities and practices within an organization focused on managing and developing its human capital, including recruitment, training, and employee welfare.

Human Resource Planning

Human resource planning involves forecasting future manpower requirements, ensuring that the organization has the right number of people and the right kind of people at the right places, at the right time, capable of effectively and efficiently completing those tasks that will help the organization achieve its overall objectives.