Diligent Ltd Had Five Units of the Commodity Algo on Hand

question 7

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 LIFO assumption in a perpetual inventory system?

• A) $2 600
• B) $2 700
• C) $2 720
• D) $1 400

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Definitions:

Anxiety

A feeling of worry, nervousness, or unease, often about an impending event or something with an uncertain outcome.

Helplessness

A state of being unable to take action or make effective decisions in the face of adverse circumstances, often leading to diminished motivation.

Post-Traumatic Stress Disorder

A mental health condition that's triggered by experiencing or witnessing a terrifying event, characterized by flashbacks, nightmares, and severe anxiety.

Generalized Anxiety Disorder

A mental health disorder characterized by persistent and excessive worry about a variety of topics, events, or activities, without specific triggers.