A Company Purchased 100 Units for $20 Each on January

question 49

Multiple Choice

A company purchased 100 units for $20 each on January 31.It purchased 100 units for $30 on February 28.It sold 150 units for $45 each from March 1 through December 31.If the company uses the First-In,First-Out inventory costing method,what is the amount of Cost of goods sold on the December 31 income statement?

• A) $6,750
• B) $4,000
• C) $3,500
• D) $3,750

---

Definitions:

Green Economies

Economic development models that emphasize sustainability, reducing environmental risks, and enhancing resource efficiency.

Institutional Frameworks

The systems of formal laws, regulations, and procedures, as well as informal conventions and practices that shape social, economic, and political interactions.

Statutory Laws

Laws that are written and enacted by a legislative body, such as a parliament or congress, as opposed to common law or regulatory law.