Patricia Is a Business Owner Who Is Trying to Determine

question 58

Multiple Choice

Patricia is a business owner who is trying to determine her cost of goods sold for 2016. She bought 20 units of inventory at $11, then 26 units at $10, and finally 18 units at $14. She sold 30 units at an average price of $16 per unit in 2016 and uses FIFO for her inventory valuation. What was her cost of goods sold in 2016, assuming that there was no inventory at the beginning of the year? ​

• A)$320
• B)$330
• C)$480
• D)$732
• E)None of the above

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Definitions:

Motivators

Factors that stimulate enthusiasm and energy in individuals to pursue a particular course of action or continue in their efforts to achieve a goal.

Job Characteristics Model

A framework that suggests the motivation, satisfaction, and performance of employees are influenced by specific job characteristics.

Task Significance

The degree to which a job has a substantial impact on the lives of other people or is perceived as important and valuable.

Enriched Job

An employment design aimed at enhancing job satisfaction and performance by incorporating meaningful tasks, giving workers more autonomy, and offering opportunities for personal growth.