Assume the Following Cost of Goods Sold Data for a Company

question 115

Multiple Choice

Assume the following cost of goods sold data for a company: $$\begin{array} { r r } 2012 & \$ 1,500,000 \\2011 & 1,200,000 \\2010 & 1,000,000\end{array}$$ If 2010 is the base year, what is the percentage increase in cost of goods sold from 2010 to 2012?

• A)150%
• B)50%
• C)67%
• D)33%

Recognize the nutritional and caloric impact of alcohol consumption on persons with an Alcohol Use Disorder (AUD).

Identify the physiological consequences of chronic, heavy alcohol consumption.

Understand the role of alcohol in various medical conditions, including liver diseases, cardiovascular diseases, and neurological disorders.

Comprehend the epidemiology of alcohol use and its dependencies.

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Definitions:

First-In, First-Out Method

An inventory valuation method that assumes goods are sold in the order they are acquired, with the oldest inventory items sold first.

Materials

Raw substances or components used in the manufacturing or production process.

Assembly Department

A division within a manufacturing facility where components are assembled into finished products.

First-In, First-Out Method

An accounting method for valuing inventory that assumes the first items placed into inventory are the first sold.