Given the Following Information, Determine the Cost of Goods Sold

question 8

Multiple Choice

Given the following information, determine the cost of goods sold for December 31 using the FIFO 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)$281.25
• B)$332.10
• C)$282.15
• D)$290.70
• E)$210.30

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Definitions:

Deforestation

The large-scale removal of forest land or tree plantations, often resulting in damage to the quality of the land.

Soil Nutrient Loss

The depletion of essential minerals and compounds from soil, often due to factors like erosion, over-farming, or leaching, which can reduce soil fertility and agricultural productivity.

Global Climate Change

An ongoing trend toward warmer temperatures and shifts in climate patterns worldwide; caused by a rise in greenhouse gases.

Acidic Precipitation

A form of precipitation, such as rain or snow, that contains high levels of hydrogen ions (low pH), often due to pollutants like sulfur dioxide and nitrogen oxides released into the atmosphere.