The Following Information Is for Benitez Company for the Current

question 19

Essay

The following information is for Benitez Company for the current year:
$\begin{array}{ll}\text { Beginning inventory }& 300 \text { units @ } \$ 25 \\\text { Purchase April } 8 &150 \text { units }@ \$ 30 \\\text { Purchase September } 12 & 250 \text { units @ } \$ 34 \\\text { Sales } &590 \text { units @ }\$50 \\\end{array}$
Required:Assuming that Benitez uses the FIFO cost flow method,How much product cost would be allocated to Cost of Goods Sold?How much product cost would be allocated to Merchandise Inventory at the end of the year?

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Definitions:

Punishment

A method used to reduce or eliminate undesirable behavior by imposing negative consequences.

Aggressive

A behavior characterized by assertiveness and readiness to confront or attack, often associated with hostility or competitiveness.

Noncreative

Lacking originality, innovation, or the ability to produce new or unique ideas or outcomes.

Positive Reinforcement

A process by which rewarding a behavior immediately after it occurs increases the likelihood that the behavior will be repeated.