Given the Following Information, Determine the Cost of Goods Sold

question 34

Multiple Choice

Given the following information, determine the cost of goods sold at December 31 using the LIFO periodic 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)$284.70
• B)$332.10
• C)$281.25
• D)$290.70
• E)$297.00

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Definitions:

Microorganisms

Tiny living organisms, such as bacteria, viruses, fungi, and protozoa, that can only be seen under a microscope and play various roles in the environment, human body, and disease.

Leukocytosis

An increase in the number of white blood cells.

Surgical Asepsis

A method used to prevent microbial contamination during surgeries or invasive procedures to maintain a sterile environment.

Sterile Gloved

Wearing gloves that have been treated to be free from all microorganisms to maintain sterility during medical procedures.