Pate LtdHas the Following Data Related to an Item of Inventory

question 313

Multiple Choice

Pate Ltd.has the following data related to an item of inventory: Inventory, March 1 .............100 units @ $8.40 Purchase, March 7 .............350 units @ $8.80 Purchase, March 16 ...........70 units @ $9.50 Inventory, March 31 ...........150 units If Pate Ltd.uses FIFO, the value assigned to cost of goods sold is

• A)$3,305.
• B)$3,262.
• C)$3,216.
• D)$1,369.

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Definitions:

Rate of Return

The rate at which an investment gains (or loses) value over a specified period, expressed as a percentage.

Growth Rate

A percentage figure indicating the rate at which a company's revenue or earnings are increasing over a specific period, typically used as a measure of a company’s financial health or performance.

Investor's Return

The profit or loss made on an investment, usually expressed as a percentage of the initial investment.

Stock Price

The cost of purchasing a share of a company’s stock, which fluctuates based on market conditions, investor perceptions, and company performance.