These Are the Purchases and Sales of Commodity C During $@ \$ 10$

question 36

Multiple Choice

These are the purchases and sales of Commodity C during the month of August.A perpetual inventory system is used. Balance on hand 1 August: 10 units $@ \$ 10$ each.
Purchases:
$\begin{array}{lr}\text { Aug 3 } & 10 \text { units } @ \$ 12 \\\text { Aug 12 } & 6 \text { units } \$ 13 \\\text { Aug 25 } & 12 \text { units } @ \$ 10\end{array}$
Sales:
Aug $7 \quad 14$ units
Aug $27 \quad 10$ units The value of the stock of Commodity C at 31 August using the FIFO method of costing inventory is:

• A)$140
• B)$146
• C)$168
• D)$182

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Definitions:

Bond Financing

A method of raising capital through the issuance of bonds which are to be repaid at a specified maturity date along with periodic interest payments.