Anderson's Used Cars Uses the Specific Identification Formula of Costing

question 34

Multiple Choice

Anderson's Used Cars uses the specific identification formula of costing inventory.During March, Anderson purchased three cars: a Honda Civic for $6,200, a Chevy Malibu for $7,300, and a Ford Pinto $8,400, respectively.During March, two cars are sold for $8,600 each.Anderson determines that at March 31, the Ford Pinto is still on hand.What is Anderson's cost of goods sold for March?

• A)$8,400
• B)$13,500
• C)$15,700
• D)$17,200

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Definitions:

Secondary Circular Reactions

Repetitive actions in infant development focused on external objects, forming part of Piaget's sensorimotor stage.

Tertiary Circular Reactions

The stage in infant development, according to Piaget, characterized by the purposeful adaptation of established schemes to new situations.

Mental Representations

Internal cognitive symbols that stand in for objects, events, or concepts, allowing individuals to mentally simulate and think about those entities.

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or otherwise sensed, a concept developed during infancy.