Metro Computer Company Had the Following Balances and Transactions During

question 84

Multiple Choice

Metro Computer Company had the following balances and transactions during 2014. $$\begin{array} { | l | l | } \hline \text { Beginning inventory } & 100 \text { units at } \$ 75 \\\hline \text { March } 10 & \text { Sold } 50 \text { units } \\\hline \text { June } 10 & \text { Purchased } 200 \text { units at } \$ 80 \\\hline \text { October 30 } & \text { Sold } 150 \text { units } \\\hline\end{array}$$
- What would the Cost of goods sold be as reported on the income statement at December 31,2014 if the perpetual First-In,First-Out costing method is used? (Answers are rounded to the nearest dollar.)

• A) $15,000
• B) $12,000
• C) $16,000
• D) $15,500

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Persistence

The quality of continuing steadfastly or firmly in some action, purpose, or course of action in spite of opposition.

Specific Nerve Energies

The concept that different sensory nerves convey specific qualities of sensations to the brain, such as sight or sound.

Dualism

A philosophical concept that sees mind and body as two distinct entities that interact and influence each other.

Brain

The central organ of the human nervous system, responsible for thought, memory, emotion, touch, motor skills, vision, breathing, temperature, hunger, and every process that regulates our body.