A Company Had Inventory of 5 Units at a Cost

question 150

Multiple Choice

A company had inventory of 5 units at a cost of $20 each on November 1. On November 2, they purchased 10 units at $22 each. On November 6, they purchased 6 units at $25 each. On November 8, they sold 18 units for $54 each. Using the LIFO perpetual inventory method, what was the cost of the 18 units sold?

• A)$395
• B)$410
• C)$450
• D)$510
• E)$520

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Definitions:

Adaptations

The process by which a species becomes fitted to its environment; it is the result of natural selection acting upon heritable variation.

Evolutionary Modifications

Changes in an organism's genetic makeup over time, leading to adaptations and the emergence of new species through natural selection and other evolutionary processes.

Vestigial Structures

Anatomical features or behaviors that have lost all or most of their original function in a species through evolution.

Bioremediation

A method to clean up a hazardous waste site that uses microorganisms to break down toxic pollutants, or plants to selectively accumulate toxins.