Given the Following Information, Determine the Cost of Goods Sold

question 37

Multiple Choice

Given the following information, determine the cost of goods sold at December 31 using the LIFO perpetual inventory method. December 2: 5 units were purchased at $7 per unit.
December 9: 10 units were purchased at $9.40 per unit.
December 11: 12 units were sold at $35 per unit.
December 15: 20 units were purchased at $10.15 per unit.
December 22: 18 units were sold at $35 per unit.

• A)$282.15
• B)$332.10
• C)$281.25
• D)$290.70
• E)$210.30

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Definitions:

Diagnosis

The identification of the nature and cause of an illness or other problem by examination of the symptoms.

ADHD

Attention Deficit Hyperactivity Disorder, a neurodevelopmental disorder characterized by inattention, hyperactivity, and impulsivity.

DSM

The Diagnostic and Statistical Manual of Mental Disorders, a handbook used by healthcare professionals as the authoritative guide to diagnosing mental disorders.

Insanity

A legal term used to describe a person's inability to understand the nature of their actions or distinguish right from wrong due to mental illness.