Given the Following Data, What Is the Value of Cost

question 55

Multiple Choice

Given the following data, what is the value of cost of goods sold as determined by the FIFO method?

• A)$4,500
• B)$2,912
• C)$2,940
• D)$2,880

---

Definitions:

Frederick Taylor

Known as the father of scientific management, he revolutionized industry by developing efficiency techniques and systems for improving productivity.

Production

The process of creating, manufacturing, or producing goods and services.

Internal Customers

Individuals or departments within an organization that receive products or services from other parts of the company.

Employees of a Department

Individuals who work within a specific division or section of an organization, focusing on particular tasks or responsibilities.