-If Shillings Is Using a Perpetual System and the FIFO

question 34

Multiple Choice

$\begin{array}{l}\text { Shillings had the following inventory activity during April: }\\\\\begin{array} { | l | r | r | r | } \hline & \text { Units } & \text { Unit cost } & \text { Total cost } \\\hline \text { Beginning inventory } & 800 & \$ 10.00 & \$ 8,000 \\\hline \text { Purchase: April 4 } & 1,400 & 11.00 & 15,400 \\\hline \text { Sale: April 8 } & ( 1,500 ) & & \\\hline \text { Purchase: April 12 } & 900 & 10.50 & 9,450 \\\hline \text { Sales: April 24 } & ( 900 ) & & \\\hline\end{array}\end{array}$
-If Shillings is using a perpetual system and the FIFO costing assumption, what is the cost of goods sold closest to?

• A) $25,700
• B) $25,500
• C) $25,930
• D) $22,400

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Definitions:

Reclusive Behavior

A tendency to avoid social interactions and prefer solitude, often seen in various psychological conditions.

Aggression

Behaviors or actions characterized by hostility or violence towards others, often stemming from frustration or anger.

Anorexia Nervosa

An eating disorder characterized by an intense fear of gaining weight and a distorted body image, leading to restricted food intake and extreme thinness.

Hypokalemia

A medical condition characterized by lower than normal levels of potassium in the bloodstream, which can affect heart and muscle function.