A Corporation Uses a FIFO Perpetual Inventory System

question 102

Multiple Choice

A corporation uses a FIFO perpetual inventory system. August 2, 25 units were purchased at $12 per unit.
August 5, 10 units were purchased at $13 per unit.
August 15, 12 units were sold at $25 per unit.
August 18, 15 units were purchased at $14 per unit.
What was the amount of the ending inventory for the month of August?

• A)$496.00
• B)$486.00
• C)$492.57
• D)$300.00
• E)$510.00

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Definitions:

Fluid Volume Overload

A condition where there is an excessive accumulation of fluid in the body, often leading to swelling and other health complications.

Blood Transfusion

The process of transferring blood or blood products from one person into the circulatory system of another to replace lost components of the blood.

Anaphylactic Shock

A severe, potentially life-threatening allergic reaction characterized by sudden drop in blood pressure and difficulty breathing.

Metabolic Acidosis

A condition where the body produces too much acid, or the kidneys are not removing enough acid, causing a decrease in blood pH.