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

question 29

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:

Axon

An extended, narrow part of a nerve cell, known as a neuron, that generally carries electrical impulses from the neuron's main body.

Electrical Impulses

The signals that neurons use to communicate with each other, consisting of changes in electric potential across neuronal membranes.

Reticular Formation

A network of neurons located in the brainstem, involved in controlling arousal and attention.

Stimuli

Physical or chemical changes in the internal or external environment that influence or trigger responses in organisms.