A Company Has Beginning Inventory of 15 Units at a Cost

question 94

Multiple Choice

A company has beginning inventory of 15 units at a cost of $12 each on October 1.On October 5,it purchases 10 units at $13 per unit.On October 12 it purchases 20 units at $14 per unit.On October 15,it sells 30 units.Using the FIFO periodic inventory method,what is the value of the inventory at October 15 after the sale?

• A)$140
• B)$160
• C)$210
• D)$380
• E)$590

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Definitions:

Adoptive Parents

Individuals who legally assume the role of parents for a child that is not biologically their own through the process of adoption.

Monozygotic Twins

Twins that result from one zygote splitting and forming two embryos; also known as identical twins.

Behavioral Similarity

The extent to which individuals or species exhibit comparable patterns of behavior, often due to genetic, environmental, or social influences.

Phenotype

The observable characteristics or traits of an organism, resulting from the interaction of its genotype with the environment.