In a Statistic Class,10 Scores Were Randomly Selected with the Following

question 6

Multiple Choice

In a statistic class,10 scores were randomly selected with the following results were obtained: 74,73,77,77,71,68,65,77,67,66 What is the 65^th percentile?

• A)65.9
• B)67.3
• C)66.75
• D)73.85
• E)77.0

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Definitions:

FIFO Cost Method

The FIFO (First In, First Out) cost method is an inventory valuation approach where goods first bought are the first ones sold, assuming that older inventory is used up first.

LIFO Method

An inventory valuation method that assumes the last items placed into inventory are the first ones sold during an accounting period.

FIFO

First-In, First-Out, an inventory method where the oldest items in stock are sold first.

LIFO

Last-In, First-Out, an inventory valuation method where the most recently produced or purchased items are sold first, used for cost of goods sold calculation.