In Figure 1

question 23

Multiple Choice

In Figure 1.9,the slope of the line between points L and M is

• A)1.20.
• B)0.80.
• C)0.75.
• D)0.67.

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Definitions:

Units

A measure of quantity, such as items, goods, or services, which can be counted or measured.

FIFO

First-In, First-Out (FIFO) is an inventory valuation method where goods first added to inventory are the first ones considered sold.

Ending Inventory

The financial value of products on hand for selling at the end of a fiscal period.

Units

basic quantities or measurements used as a standard to express values, amounts, or sizes.