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

Recognize the role and impact of social networking sites and professional networks in digital communication.

Understand the concepts of web security and privacy policies.

Differentiate between web-based and client-based software for digital communication.

Identify the importance of e-mail etiquette in professional communication.

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Definitions:

High-Tech Companies

Businesses involved in industries that rely heavily on advanced technological developments, often in fields like information technology, biotechnology, and engineering.

Investors

Individuals or entities who allocate capital with the expectation of receiving financial returns.

Health Care Reform

The process of making changes to health policy, health systems, and health care delivery to improve access, affordability, and quality of health care.

Hillary Clinton

A prominent political figure in the United States, having served as the First Lady, Senator, Secretary of State, and Democratic presidential candidate.