Santa Fe Tile Company Had the Following Inventory Purchases and Sales

question 42

Multiple Choice

Santa Fe Tile Company had the following inventory purchases and sales during the month of May.The company uses the periodic inventory method. $$\begin{array} { | c | c | c | c | c | c | c | } \hline & \text { Purchases } & & & \text { Sales } & & \\\hline \text { Date } & \text { Units } & \text { Unit Cost } & \text { Total } & \text { Units } & \text { Unit Price } & \text { Total } \\\hline \text { May 1 } & 100 & \$ 4 & \$ 400 & & & \\\hline 5 & 200 & 5 & 1,000 & & & \\\hline 10 & & & & 100 & \$ 10 & \$ 1,000 \\\hline 15 & 100 & 6 & 600 & & & \\\hline 20 & 150 & 7 & 1,050 & & & \\\hline 25 & & & & 200 & 11 & \$ 2,200 \\\hline 30 & 160 & 8 & 1,280 & & & \\\hline & 710 & & \$ 4,330 & 300 & & \$ 3,200 \\\hline\end{array}$$
- If Santa Fe uses FIFO costing,how much was the Cost of goods sold for the month?

• A) $1,400
• B) $1,520
• C) $1,380
• D) $1,850

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Definitions:

True Hermaphrodite

An individual who possesses both ovarian and testicular tissue, allowing for the production of both sperm and eggs.

Transgendered

Transgender is the correct term, and it describes individuals whose gender identity does not align with the sex they were assigned at birth.

Chromosomal Defects

Chromosomal Defects are abnormalities in the number or structure of chromosomes, leading to genetic disorders or physical malformations.

Androgens

A group of hormones that play a role in male traits and reproductive activity; present in both males and females but in higher levels in males.