A Company Has Inventory of 15 Units at a Cost

question 105

Multiple Choice

A company has inventory of 15 units at a cost of $12 each on August 1. On August 5, they purchased 10 units at $13 per unit. On August 12, they purchased 20 units at $14 per unit. On August 15, they sold 30 units. Using the FIFO periodic inventory method, what is the value of the inventory at August 15 after the sale?

• A)$140
• B)$160
• C)$210
• D)$380
• E)$590

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Definitions:

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Refers to the various frameworks or methodologies used to analyze and interpret social phenomena.

Auguste Comte

A French philosopher known as the father of sociology, who advocated for the scientific study of society and the development of positivism.

French Revolution

A period of radical social and political upheaval in France that started in 1789 and led to the end of monarchy, the rise of Napoleon, and the reformation of the country's social structure.

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