David Received a Raw Score of 56

question 3

Multiple Choice

David received a raw score of 56. Given a mean of 50, a median of 50, a standard deviation of 4. Given David's information above, what is his T score?

• A) 35
• B) 55
• C) 65
• D) 75

---

Definitions:

LIFO Method

Last In, First Out method; an inventory valuation technique where the latest items added to the inventory are the first to be sold.

Cost of Merchandise Sold

The total cost incurred to purchase or produce the goods sold by a company during a specific period.

Gross Profit

The financial metric representing the difference between revenue and the cost of goods sold, indicating how efficiently a company is producing its goods.

Cost Flow Assumption

A method of accounting designated to assess inventory worth and calculate the cost of goods sold, which can be either FIFO (First-In, First-Out) or LIFO (Last-In, First-Out).