A Company Had the Following Purchases and Sales During Its

question 200

Multiple Choice

A company had the following purchases and sales during its first year of operations: On December 31,there were 26 units remaining in ending inventory.
-Using the perpetual FIFO inventory costing method,what is the value of cost of goods sold? (Assume all sales were made on the last day of the month.)

• A)$8,670.
• B)$3,540.
• C)$5,400.
• D)$5,130.
• E)$3,270.

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Definitions:

Oral Stage

The first stage in Freud's psychosexual development theory, occurring in the first year of life, where pleasure is centered on oral activities such as sucking and eating.

Fixated

Obsessively focused or attached to someone or something in an immature psychological state.

Gullible

A tendency to be easily deceived or tricked, often due to a lack of skepticism or the desire to believe what one is told.

Preconscious

Mental activities and information not currently in conscious awareness but that can be easily recalled or accessed.