Quiet Phones Company Has the Following Inventory Data A Physical Count of Merchandise Inventory on July 31 Reveals

question 12

Multiple Choice

Quiet Phones Company has the following inventory data: $$\begin{array} { r l r r } \text { July } 1 & \text { Beginning inventory } & 30 \text { units at } \$ 19 & \$ 570 \\7 & \text { Purchases } & 105 \text { units at } \$ 20 & 2,100 \\22 & \text { Purchases } & 15 \text { units at } \$ 22 &330\\&&&\$3,000\end{array}$$ A physical count of merchandise inventory on July 31 reveals that there are 48 units on hand.Using the LIFO inventory method the amount allocated to cost of goods sold for July is

• A)$930.
• B)$990.
• C)$2010.
• D)$2070.

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Definitions:

Organic Compound

A chemical compound containing carbon atoms covalently bonded to other elements, typically hydrogen, oxygen, and nitrogen, among others.

Hydrocarbon Alkyne

A type of hydrocarbon that contains at least one carbon-carbon triple bond, part of the alkyne class of organic compounds.

Carbon Atoms

The fundamental building blocks of organic molecules, known for forming a vast number of compounds due to their ability to form stable bonds with themselves and other elements.

Supramolecular Polymers

Large structures formed from the non-covalent joining of monomers, characterized by interactions such as hydrogen bonding or van der Waals forces.