Use This Inventory Information for the Month of June to Answer

question 149

Multiple Choice

Use this inventory information for the month of June to answer the following question. $\begin{array}{llll}\text { June } & 1 & \text { Beginning inventory } & 10 \text { units @ } \$120\\& 5 & \text { Purchase } & 60 \text { units } @ \$ 112\\&14 & \text { Sale } & 40 \text { units } \\&21 & \text { Purchase } & 30 \text { units @ } \$ 116 \\&30 & \text { Sale } & 28 \text { units }\end{array}$
Assuming that a periodic inventory system is used,what is cost of goods sold on a LIFO basis?

• A) $7,696
• B) $7,736
• C) $3,664
• D) $3,704

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Definitions:

Cognitive-Behavioral Therapy

A form of psychotherapy that focuses on identifying and restructuring negative thought patterns to alter behavior and emotional state.

Attractiveness

The qualities that make a person or thing appealing or desirable to others.

Human Interactions

The ways in which people communicate and behave towards one another, including both personal and impersonal relationships.

Standards of Attractiveness

Socially constructed ideals that define what is considered physically appealing or beautiful in a given culture or society.