McCarthy Company Has Inventory of 8 Units at a Cost

question 19

Multiple Choice

McCarthy Company has inventory of 8 units at a cost of $200 each on October 1.On October 2,it purchased 20 units at $205 each.11 units are sold on October 4.Using the FIFO perpetual inventory method,
-What amount will be reported as cost of goods sold for the 11 units that were sold?

• A)$2,239.
• B)$2,255.
• C)$2,200.
• D)$2,228.
• E)$2,215.

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Definitions:

Pituitary

A small, pea-sized gland located at the base of the brain, responsible for releasing hormones that regulate various bodily functions.

Parathyroid

Small glands located in the neck that regulate calcium levels in the body by producing parathyroid hormone.

Adrenal

Glands located above the kidneys that produce various hormones including adrenaline and cortisol, which regulate metabolism, immune system, and stress response.

Retinopathy

A degeneration of the retina caused by a decrease in blood supply.