Adam IncUses a Perpetual Inventory System and Has the Following Data

question 10

Multiple Choice

Adam Inc.uses a perpetual inventory system and has the following data for January:
$$\begin{array} { r l r } \text { Jan. } 1 & \text { On hand, } 10 \text { units } @ \$ 2 \text { each } & \$ 20 \\4 & \text { Sold } 8 \text { units } @ \$ 10 \text { each } & 80 \\22 & \text { Purchased } 50 \text { units } @ \$ 4 \text { each } & 200 \\26 & \text { Sold } 48 \text { units } @ \$ 10 \text { each } & 480\end{array}$$
-If Adam uses the LIFO method,how much is cost of goods sold for the month of January?

• A)$204
• B)$208
• C)$212
• D)$560

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Definitions:

Semilunar Valve

Valves located at the bases of the aorta and the pulmonary artery that prevent the backflow of blood into the ventricles of the heart during contraction.

Pulmonary Vein

One of the veins that carry blood from the lungs to the left atrium of the heart.

Coronary Sinus

A large vein on the posterior side of the heart that collects blood from the heart muscle and empties it into the right atrium.

Angina Pectoris

A condition marked by severe chest pain due to insufficient blood supply to the heart, often associated with coronary artery disease.