Tetra CoUses the Perpetual Inventory System and a FIFO Cost Flow

question 83

Multiple Choice

Tetra Co.uses the perpetual inventory system and a FIFO cost flow method.On January 1,the company purchased 2,000 units of inventory that cost $4.00 each.On January 12,the company purchased an additional 3,000 units of inventory at a cost of $4.20 each.On January 20,Tetra Company sold 4,000 units of inventory.Which of the following entries would be required to recognize the cost of goods sold on that date?

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Definitions:

CSV File

A plain text file that stores tabular data in a simple format, with commas used to separate values, making it widely supported and useful for moving data between different programs.

Linked Table

In databases, a table that is connected to another table through a common field, allowing for relational data management.

Area Chart

A type of chart that represents quantities over time, shaded between lines and a baseline, typically used in statistics and business.

Cumulative Totals

Aggregated sums that increase over time by adding successive amounts.