Olympus Climbers Company Has the Following Inventory Data A Physical Count of Merchandise Inventory on July 31 Reveals

question 127

Multiple Choice

Olympus Climbers 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 FIFO 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:

O-negative Blood

A blood type characterized by the lack of A, B, and Rh antigens on the surface of red blood cells, making it a universal donor type for blood transfusions.

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The total number of people living in the United States, as determined by census or estimation.

Economic Dynamics

The study of economic systems in motion, focusing on changes over time and the processes driving these changes.