Use the Following Information to Answer the Following Questions Assuming That the Company Uses the Perpetual Inventory System, Determine

question 80

Multiple Choice

Use the following information to answer the following questions. The Boxwood Company sells blankets for $60 each. The following was taken from the inventory records during May. The company had no beginning inventory on May 1.
$\begin{array}{|l|l|l|l|}\hline \text { Date } & \text { Product Z } & \text { Units } & \text { Cost } \\\hline \text { May 3 } & \text { Purchase } & 5 & \$ 20 \\\hline \text { May 10 } & \text { Sale } & 3 & \\\hline \text { May 17 } & \text { Purchase } & 10 & \$ 24 \\\hline \text { May 20 } & \text { Sale } & 6 & \\\hline \text { May 23 } & \text { Sale } & 3 & \\\hline \text { May 30 } & \text { Purchase } & 10 & \$ 30 \\\hline\end{array}$ Assuming that the company uses the perpetual inventory system, determine the gross profit for the sale of May 23 using the FIFO inventory cost method.

• A) $108
• B) $120
• C) $72
• D) $180

Identify the importance and components of team building for improving performance.

Acknowledge the role of cross-functional teams in fostering innovation and breaking down departmental barriers.

Comprehend the steps and processes involved in creating effective teams.

Understand the concept of team dynamics and the stages of team development.

---

Definitions:

Analytic Intelligence

The ability to assess problems logically, evaluate solutions, and make rational decisions.

Essay Exams

A type of examination where students are required to write detailed answers in essay format to questions posed by the examiner.

Fluid Intelligence

The ability to think logically and solve problems in novel situations, independent of acquired knowledge, which can decrease with age.

Crystallized Intelligence

The ability to use knowledge, facts, and experience, often improving as one ages.