The Following Lots of a Particular Commodity Were Available for Sale

question 77

Multiple Choice

The following lots of a particular commodity were available for sale during the year: $\begin{array}{ll}\text { Beginning invent ory } & 10 \text { units at } \$ 30 \\\text { First purchase } & 25 \text { units at } \$ 32 \\\text { Second purchase } & 30 \text { units at } \$ 34 \\\text { Third purchase } & 10 \text { units at } \$ 35\end{array}$ The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the FIFO method?

• A) $655
• B) $620
• C) $690
• D) $659

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Definitions:

Employer Of Choice

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An academic perspective focusing on the study of employment relations, emphasizing power dynamics, labor processes, and the critical analysis of management and labor union strategies.

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