Indrisano's Used Cars Uses the Specific Identification Method of Costing

question 131

Multiple Choice

Indrisano's Used Cars uses the specific identification method of costing inventory.During March, Indrisano purchased three cars for $12,000, $14,400, and $19,200, respectively.During March, two cars are sold for a total of $34,600.Indrisano determines that at March 31, the $14,400 car is still on hand.What is Indrisano's gross profit for March?

• A)$1,000.
• B)$3,400.
• C)$4,200.
• D)$8,200.

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Definitions:

Carbohydrates

Organic compounds, including sugars, starch, and cellulose, which serve as a major energy source in the diet of animals.

LDL Receptors

Proteins on cell surfaces that bind and internalize low-density lipoprotein (LDL) particles for degradation.

Serum Cholesterol

The total amount of cholesterol present in the serum portion of the blood, which is a key indicator in assessing an individual's risk for cardiovascular diseases.

Endocytosis

Bulk uptake of material through the cell membrane.