A Company Purchased 100 Units for $20 Each on January

question 55

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 Last-In,First-Out inventory costing method,what is the amount of ending inventory on December 31?

• A) $1,500
• B) $1,250
• C) $1,000
• D) $2,250

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Definitions:

Group Values

Shared beliefs or standards that guide the behaviors and decisions of a collective or group.

Outnumbered

Being in a situation where one group or individual is significantly less in number compared to another group or individuals.

Changing

Refers to the process or act of making or becoming different.

Instrumental Values

Values that reflect the ways you prefer to behave leading toward larger life goals.