Use This Inventory Information for the Month of May to Answer

question 63

Multiple Choice

Use this inventory information for the month of May to answer the following question. Assuming that a periodic inventory system is used, what is cost of goods sold on a FIFO basis?

• A) $2,880
• B) $5,120
• C) $5,200
• D) $2,800

---

Definitions:

Treaty

A formal agreement between two or more sovereign states concerning peace, alliance, trade, or other international relations.

Document Footer

The section at the bottom of a document, often used for displaying page numbers or additional information.

Title Of Action

A formal label given to a legal case or proceeding.

Caption

A brief descriptive title or heading for a document, article, or media content, often indicating its content or focus.