A Company Has Beginning Inventory of 15 Units at a Cost

question 85

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

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Public Nature

Refers to the characteristics of spaces, resources, or properties that are open for use by everyone in the community and managed on behalf of the public good.

White-Collar Crimes

Are illegal acts committed by respectable, high-status persons in the course of their work.

Class

A system of categorizing society into groups based on socioeconomic status, sharing similar levels of wealth, educational attainment, and occupation.

Crime

An action or omission that constitutes an offense and is punishable by law.