The Inventory Data for an Item for November Are Using a Perpetual System, What Is the Cost of the

question 124

Multiple Choice

The inventory data for an item for November are: $$\begin{array} { r l l } \text { Nov. } 1 & \text { Inventory } & 20 \text { units at } \$ 19 \\4 & \text { Sold } & 10 \text { units } \\10 & \text { Purchased } & 30 \text { units at } \$ 20 \\17 & \text { Sold } & 20 \text { units } \\30 & \text { Purchased } & 10 \text { units at } \$ 21\end{array}$$ Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO?

• A) $610
• B) $600
• C) $590
• D) $580

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Definitions:

Miscarriages

The spontaneous loss of a pregnancy before the fetus can survive outside the womb, typically before 20 weeks of gestation.

Amniocentesis

A prenatal test that involves inserting a needle into the uterus and withdrawing amniotic fluid containing fetal cells that can be analyzed for genetic disorders.

Amniotic Fluid

The protective liquid contained within the amniotic sac that surrounds and cushions the fetus during pregnancy.

Fetal Cells

Cells that make up the fetus during pregnancy, highly capable of differentiation and growth, playing a critical role in the development of the embryo into a newborn.