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:

Suggestive Proposition

A sales technique that involves making recommendations or suggestions to guide potential customers towards making a purchase decision.

Logical Reasoning

The method of employing a logical, orderly sequence of actions relying on solid mathematical methods and provided assertions to reach a determination.

Visuals

Imagery, graphics, videos, or any visual content used in marketing, presentations, or communication to illustrate ideas, showcase products, or engage an audience.

Suggestive Proposition

A manner of proposing ideas or solutions that subtly influence the thoughts and decisions of others.