Diligent Ltd Had Five Units of the Commodity Algo on Hand

question 10

Multiple Choice

Diligent Ltd had five units of the commodity Algo on hand at 1 September 2019. The following purchases and sales were made during September: What was the value of cost of goods sold of Algo, using the FIFO assumption?

• A) $2 640
• B) $2 700
• C) $2 720
• D) $2 400

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Definitions:

Wage/Salary Survey

A study that tells a company how much compensation comparable firms are paying for specific jobs that the firms have in common.

Excessive Absenteeism

The frequent absence from work or duties without good reason, beyond what is deemed to be normal or acceptable.