Peach Pink Inc A Physical Count of Merchandise Inventory on July 31 Reveals

question 112

Multiple Choice

Peach Pink Inc.has the following inventory data: $$\begin{array} { r l r r } \text { July } 1 & \text { Beginning inventory } & 40 \text { units at } \$ 20 & \$ 800 \\7 & \text { Purchases } & 140 \text { units at } \$ 21 & 2,940 \\22 & \text { Purchases } & 20 \text { units at } \$ 22 & 440\\&&&\$4,180\end{array}$$ A physical count of merchandise inventory on July 31 reveals that there are 50 units on hand.Using the FIFO inventory method the amount allocated to cost of goods sold for July is

• A)$3110.
• B)$3170.
• C)$3010.
• D)$3080.

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Definitions:

Dominant Majority Group

The social group in a society that holds the most power and influence, often setting norms and standards for others to follow.

Contact Hypothesis

A theory suggesting that under appropriate conditions, interpersonal contact is one of the most effective ways to reduce prejudice between majority and minority group members.

Equal Status

A principle suggesting that greater interaction between groups under conditions of equal status will reduce prejudice and improve relations among them.

Hostility

Aggressive behavior or attitudes directed towards others, often stemming from anger or antagonism.