Lauer Corporation Uses the Periodic Inventory System and Has Provided

question 113

Multiple Choice

Lauer Corporation uses the periodic inventory system and has provided the following information about one of their laptop computers:

$$\begin{array}{ll}\begin{array} { ll } \text { Date } & \text { Transaction } \\1 / 1 & \text { Beginning Inventory } \\5 / 5 & \text { Purchase } \\8 / 10 & \text { Purchase } \\10 / 15 & \text { Purchase }\end{array}\begin{array} { l l} \text { Number of Units } & \text { Cost per Unit } \\100& \$ 800 \\200 & \$ 900 \\300 & \$ 1,000 \\200 & \$ 1,050\end{array}\end{array}$$
During the year,750 laptop computers were sold. What was cost of goods sold using the FIFO cost flow assumption?

• A)$717,500
• B)$730,000
• C)$703,125
• D)$725,500

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Definitions:

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The genetic contribution an individual makes to the next generation's gene pool, often measured by the number of offspring that survive to reproductive age.

Prospective Mate

An individual considered by another as a potential partner in a romantic relationship, assessing compatibility for a possible future together.

Good Genes

A hypothesis suggesting that certain traits, which are perceived as attractive, are signals of good health and genetic fitness.

Proximity

The physical or psychological closeness between people, which can influence their likelihood to form relationships or bond.