Martin Sales Had a Beginning Inventory Balance of $120 Made

question 135

Multiple Choice

Martin Sales had a Beginning inventory balance of $120 made up of 10 units purchased for $12.00 per unit.Early in the month,they purchased 16 units at $10.00 per unit.Later that month,they sold 15 units.Martin uses a perpetual inventory system,and applies FIFO.
-How much is the Cost of goods sold for the month?

• A) $170
• B) $150
• C) $180
• D) $165

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Definitions:

Commercial Introduction

The phase in which a new product or service is introduced to the general market.

New Form

Refers to an innovative or altered structure, design, or approach in a given context, often implying an improvement or adaptation.

Technological Advance

Progress in technology and innovation that leads to new methods, products, or improvements in production, efficiency, and development.

Preferred Mix

The optimal combination of goods and services chosen by an individual or firm based on preferences, income, and prices.