Use the Following Information for Questions

question 24

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 cost of the ending inventory on June 30 is

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

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Definitions:

Serratus Anterior

A muscle located on the side of the chest that assists in the upward movement of the arm and in breathing.

Lateral Flexion

The bending of the neck or body toward the right or left side.

Posterior Neck Muscles

The group of muscles located at the back of the neck, including the trapezius and the splenius muscles, responsible for movements of the head and shoulders.

Abduction

Movement away from the midline.