A Company Just Starting Business Made the Following Four Inventory

question 170

Multiple Choice

A company just starting business made the following four inventory purchases in June: $\begin{array}{lll}\text { June } 1 &150 \text { units } & \$390\\\text { June } 10 & 200 \text { units } & 598 \\\text { June } 15 & 200 \text { units } & 630 \\\text { June } 28 & 150 \text { units } & 510 \\&&\$2,128\end{array}$ A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using a periodic inventory system and the FIFO inventory method, the amount allocated to cost of goods sold, to the nearest dollar, for June is

• A) $540.
• B) $668.
• C) $1,460.
• D) $1,588.

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Definitions:

Need-Satisfaction Sales Presentation

A sales approach where the salesperson identifies and provides solutions to a customer's needs, enhancing satisfaction and persuading the purchase.

Formula Sales Approach

A systematic and structured method of selling where a pre-determined sequence of steps is followed to convince a customer to make a purchase.

Need-summary

A concise summary that identifies and outlines the specific needs or requirements of a client or situation, often used in sales to tailor solutions effectively.

Sales Presentation

A formal pitch or demonstration given by a salesperson to propose a product or service to potential buyers.