A Company Purchased 100 Units for $20 Each on January

question 49

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 First-In,First-Out inventory costing method,what is the amount of Cost of goods sold on the December 31 income statement?

• A) $6,750
• B) $4,000
• C) $3,500
• D) $3,750

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Definitions:

Forgotten Memories

Recollections that are not currently accessible through conscious effort, often due to various psychological factors.

Journaling

The practice of regularly writing down thoughts, feelings, and experiences for personal reflection and growth.

Emotional Control

The ability to manage and regulate one's emotions, especially in challenging situations, to maintain effectiveness and well-being.

Sedona Method

A self-help technique focusing on letting go of negative feelings and beliefs to achieve emotional well-being and self-realization.