Using the First-In,first-Out Method,what Is the Cost of the Merchandise

question 41

Multiple Choice

Using the first-in,first-out method,what is the cost of the merchandise inventory of 30 units on November 30?

• A)$640
• B)$660
• C)$700
• D)$600

---

Definitions:

Organizational Buying

The process by which businesses or institutions purchase products or services for use in production, operations, or resale.

Purchase Agreement

A legal contract outlining the terms and conditions of the sale and purchase of goods, services, or property between two parties.

Reciprocal Arrangements

Agreements between two or more parties where benefits, services, or goods are exchanged mutually to the advantage of all involved.

Organizational Buying Behavior

The decision-making process that organizations use to establish the need for products and services and identify, evaluate, and choose among alternative brands and suppliers.