A Company Purchased 100 Units for $30 Each on January

question 97

Multiple Choice

A company purchased 100 units for $30 each on January 31.It purchased 95 units for $40 each on February 28.It sold 150 units for $55 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)$5,450
• B)$3,800
• C)$3,000
• D)$6,800

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Definitions:

Stimulus Generalization

A psychological phenomenon in which a response to a specific stimulus becomes associated with similar stimuli, leading to the same response to the similar stimuli.

Secondary Reinforcer

A stimulus that has become reinforcing through its association with a primary reinforcer, often used in behavioral training and conditioning.

Primary Reinforcer

A stimulus that satisfies a basic biological need, such as food or water, and is inherently rewarding.

Negative Reinforcement

Negative reinforcement is a type of operant conditioning that occurs when a response is strengthened by stopping, removing, or avoiding a negative outcome or aversive stimulus.