At January 1, 2020, Nevada Ltd A Physical Count on January 31, 2020 Shows 200 Units

question 114

Multiple Choice

At January 1, 2020, Nevada Ltd. had 150 units of product A on hand, costing $32 each. Purchases of product A during January were as follows: $$\begin{array} { l l l l } \text { Date } & & \text { Units } & \text { Unit Cost } \\\text { Jan } 10 & & 200 & \$ 33.00 \\& 18 & 250 & 34.50 \\& 28 & 100 & 36.00\end{array}$$ A physical count on January 31, 2020 shows 200 units of product A on hand. The cost of the inventory at January 31, 2020 under the FIFO cost formula is

• A) $6,150.
• B) $6,375.
• C) $6,600.
• D) $7,050.

---

Definitions:

Honesty

A moral quality featuring truthfulness, integrity, and straightforwardness in actions and communications.

Fairness

The impartial and just treatment or behavior without favoritism or discrimination.

High Power Distance

A cultural dimension that indicates a society's acceptance of inequality and hierarchical differences among its members.

Individualism

A social theory favoring freedom of action for individuals over collective or state control.