Use This Inventory Information for the Month of March to Answer

question 145

Multiple Choice

Use this inventory information for the month of March to answer the following question. $\begin{array}{rll}\text { Mar. }1 & \text { Beginning inventory } & 20 \text { units @ } \$ 70 \\7 & \text { Purchase } & 70 \text { units @ } \$ 80 \\18 & \text { Sale } & 25 \text { units } \\22 & \text { Purchase } & 10 \text { units @ } \$ 88 \\29 & \text { Sale } & 40 \text { units }\end{array}$ Assuming that a perpetual inventory system is used,what is cost of goods sold (rounded) under the average-cost method?

• A) $6,020
• B) $3,210
• C) $5,190
• D) $2,810

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Definitions:

Inspiratory Reserve Volume

The maximum volume of air that can be inhaled after a normal tidal inhalation.

Volume Measurement

The process of determining the three-dimensional space occupied by a liquid, solid, or gas, using various instruments or formulas.

Calculated

Determined or deduced by mathematical methods or processes.

Directly Measured

Refers to values or quantities obtained through direct observation or instrumentation, without reliance on estimation or indirect calculation.