A Corporation Has Provided the Following Information About One of Their

question 7

Multiple Choice

A corporation has provided the following information about one of their products:

$$\begin{array}{ll}\begin{array} { ll } \text { Date } & \text { Transaction } \\1 / 1 & \text { Beginning Inventory } \\6 / 5 & \text { Purchase } \\11 / 10 & \text { Purchase } \\\end{array}\begin{array} { l l} \text { Number of Units } & \text { Cost per Unit } \\200& \$ 140 \\400 & \$ 160 \\100 & \$ 200 \\\end{array}\end{array}$$
During the year,400 units were sold. What is cost of goods sold using the average cost method?

• A)$48,000
• B)$64,000
• C)$50,000
• D)$62,000

---

Definitions:

Thinking

The process of using one's mind to consider or reason about something, involving cognition, problem-solving, and decision-making.

Feeling

A subjective, emotional state or reaction that something is experienced through the senses or emotions.

Affiliative Humor

Affiliative humor is a type of humor that focuses on creating and reinforcing social bonds through jokes and funny stories that are agreeable to all parties involved.

Self-enhancing

The psychological process of focusing on one's positive qualities and achievements to maintain or increase self-esteem.