A Company Purchased 100 Units for $20 Each on January

question 81

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 If the company uses the last-in, first-out inventory costing method, what is the amount of cost of goods sold on the income statement for the year ending December 31? (Assume that the company uses a perpetual inventory system.)

• A)$4,000
• B)$3,000
• C)$2,000
• D)$5,000

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Definitions:

Testosterone

A primary male sex hormone critical for the development of male reproductive tissues and secondary sexual characteristics.

Y Chromosome

One of the two sex chromosomes in mammals, including humans, responsible for determining male sex characteristics and inherited paternally.

Gene Expression

The process by which information from a gene is used in the synthesis of a functional gene product, typically protein, influencing the cell's structure and functions.

Signaling Molecule

Chemicals that are part of the body's communication system, transmitting information from one cell to another to coordinate bodily functions.