Table 6-6 Sam's Wholesale Bikes -Refer to Table 6-6

question 136

Multiple Choice

Table 6-6 Sam's Wholesale Bikes $\begin{array} { | l | l | } \hline \text { January } 1 \text { inventory balance } & 15 \text { units at } \$ 350 \text { per unit } \\\hline \text { January } 4 \text { purchase } & 50 \text { units at } \$ 375 \text { per unit } \\\hline \text { January } 15 \text { sale } & 40 \text { units at } \$ 550 \text { per unit } \\\hline \text { February } 8 \text { purchase } & 80 \text { units at } \$ 405 \text { per unit } \\\hline \text { February } 15 \text { sale } & 70 \text { units at } \$ 550 \text { per unit } \\\hline\end{array}$
-Refer to Table 6-6. What is the cost of goods sold for the two months assuming that Sam's uses the periodic FIFO inventory method?

• A)$42,225
• B)$56,400
• C)$48,900
• D)$38,900

Comprehend the rights of lessors and sellers in retaining title and recovering goods upon lessee's or buyer's default.

Analyze the impact of contract terms on liability and remedy availability, including exclusion clauses.

Navigate through multiple remedies available to parties following a breach, including recovery of goods, damages, cover, and replevin.

Understand the concept of self and its development in sociology.

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