A Company Had Beginning Inventory of 10 Units at a Cost

question 75

Multiple Choice

A company had beginning inventory of 10 units at a cost of $20 each on March 1.On March 2,it purchased 10 units at $22 each.On March 6 it purchased 6 units at $25 each.On March 8,it sold 22 units for $54 each.Using the FIFO perpetual inventory method,what was the cost of the 22 units sold?

• A)$470
• B)$490
• C)$450
• D)$570
• E)$520

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Definitions:

Guardian Life

is a large American life insurance company, providing various insurance products and financial services.

Women-Owned Businesses

Businesses that are at least 51% owned, controlled, and operated by one or more women.

Past Decades

Refers to the previous ten-year periods, looking backward from the current date, emphasizing historical trends or changes.

Human Resources

The department within an organization that manages employee relations, recruitment, training, and compensation.