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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Deoxyribonucleic acid, a molecule containing the genetic instructions used in the development and functioning of all known living organisms and many viruses.

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