A Company 8 Units of Inventory at a Cost of $12

question 176

Multiple Choice

A company 8 units of inventory at a cost of $12 each on November 1.On November 2,the company purchased 13 units at $13 each.On November 6,the company purchased 9 units at $14 each.On November 8,the company sold 24 units for $57 each.Given this information,determine the cost of the 24 units sold using the LIFO periodic inventory method.

• A)$307
• B)$319
• C)$336
• D)$415
• E)$442

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Definitions:

Sensory Response

Sensory response is the reaction of a person's sensory systems, such as sight, hearing, smell, taste, or touch, to external stimuli.

Place Theory

A theory in hearing that suggests that our perception of sound depends on where each component frequency produces vibrations along the basilar membrane of the inner ear.

Frequency Theory

A theory in the study of hearing that suggests pitch is determined by the rate at which nerve impulses are fired in response to sound vibrations.

High Pitches

Sounds that have a high frequency, typically perceived as shrill or squeaky, easily distinguishable from lower pitch sounds.