A Company Purchased 200 Units for $40 Each on January

question 119

Multiple Choice

A company purchased 200 units for $40 each on January 31.It purchased 165 units for $50 each on February 28.It sold 225 units for $65 each from March 1 through December 31.If the company uses the last-in,first-out inventory costing method,what is the amount of Cost of Goods Sold on the income statement for the year ending December 31? (Assume that the company uses a perpetual inventory system.)

• A) $10,650
• B) $8,250
• C) $8,000
• D) $16,250

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Definitions:

Neurons

The principal cells of the nervous system, responsible for transmitting information through electrical and chemical signals.

Synaptic knob

The enlarged end of an axon that facilitates neurotransmitter release into the synaptic cleft, enabling neural communication.

Gray matter

Regions of the brain and spinal cord packed with neuronal cell bodies, dendrites, and unmyelinated axons, playing a key role in processing and regulating neural signals.

Neuron cell bodies

The central part of a neuron (nerve cell) that contains the nucleus and is responsible for processing and transmitting neural information.