A Company's Inventory Records Report the Following On August 15, It Sold 30 Units

question 87

Multiple Choice

A company's inventory records report the following: $$\begin{array} { | l | l | l | } \hline \text { August 1 } & \text { Beginning balance } & 15 \text { units } @ \$ 12 \\\hline \text { August } 5 & \text { Purchase } & 10 \text { units } @ \$ 13 \\\hline \text { August } 12 & \text { Purchase } & 20 \text { units } @ \$ 14 \\\hline\end{array}$$ On August 15, it sold 30 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale?

• A)$140
• B)$590
• C)$380
• D)$160
• E)$210

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Definitions:

Operations

The execution of tasks and activities in order to run a business or an organization, encompassing a wide range of processes from production to services.

Routing Test

A preliminary test used to determine a respondent's level of knowledge or ability, to direct them to an appropriate level of subsequent testing.

Basal Level

The minimum level of stimulus intensity necessary for detection or the base level of functioning in metabolic or physiological processes.

Ceiling Level

The maximum performance level beyond which a test or measurement cannot accurately assess, indicating that the test may not be challenging enough for some individuals.