Saunders Corp

question 2

Multiple Choice

Saunders Corp., which accounts for inventory using the LIFO method, had 2,000 units in beginning inventory at a cost of $40 and had purchased 500 more for $43.During the quarter, 1,300 units were sold.It is expected that the ending inventory at year end will be 1,800 units as Saunders anticipates purchasing additional units for $45.The debit to cost of goods sold for the quarter would be:

• A)​$53,500
• B)​$56,500
• C)​$55,000
• D)​$58,500

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Definitions:

Business Cards

Small cards containing professional contact information that are exchanged in business contexts to facilitate networking and communication.

Cognitive Dissonance

The psychological discomfort experienced by an individual when holding two or more conflicting beliefs, values, or ideas, often leading to a change in attitude or behavior.

Corporate Customers

Individuals or businesses that purchase goods or services for professional use or resale, rather than personal use.

Retail Establishments

Businesses that sell goods or services directly to consumers, offering a variety of products in physical locations or online.