Quan Uses a Periodic Inventory System ? If Quan, Inc

question 92

Multiple Choice

Quan uses a periodic inventory system.At the end of April, Quan had 20 units on hand. April $\begin{array}{ll}1&\text { On hand, } 10 \text { units } @ \$ 2 \text { each } & \$ 20 \\19&\text { Purchased } 90 \text { units } @ \$ 3 \text { each } & \$ 270 \\&\text { Goods available for sale } & \$ 290\end{array}$ ? If Quan, Inc.uses FIFO inventory costing, how much is cost of goods sold for April?

• A) $250
• B) $232
• C) $230
• D) $240

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Definitions:

Path-Goal Theory

A leadership theory that suggests the leader's job is to assist followers in attaining their goals and to provide direction or support needed to ensure that their goals are compatible with the objectives of the group or organization.

Substitutes for Leadership

Situational factors that diminish the importance of leadership by providing guidance or motivation to group members, making direct leadership less necessary.

In-Groups

Social groups to which an individual feels a sense of belonging and loyalty, often distinguished by shared interests, values, or characteristics.

Out-Groups

Groups to which an individual does not belong or identify with, often viewed with bias or suspicion by the members of an in-group.