Anton CoUses the Perpetual Inventory System and FIFO Cost Flow Method

question 12

Multiple Choice

Anton Co.uses the perpetual inventory system and FIFO cost flow method.During the year,Anton purchased 400 units of inventory that cost $12.00 each and then purchased an additional 600 units of inventory that cost $16.00 each.If Anton sells 700 units of inventory,what is the amount of cost of goods sold?

• A)$11,200
• B)$10,400
• C)$8,400
• D)$9,600

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Definitions:

Sperm Cell

A male reproductive cell designed to fertilize an ovum to initiate the development of a new organism.

Zygote

The initial cell formed when a sperm cell unites with an egg cell, marking the beginning of a new organism.

Organic Matter

Material derived from living organisms, including plants, animals, and their byproducts, containing carbon compounds.

Proteins

are large, complex molecules made up of amino acids that play many critical roles in the body, including catalyzing metabolic reactions, DNA replication, responding to stimuli, and transporting molecules from one location to another.