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:

Intrinsic Motivation

Intrinsic motivation describes the drive to act for the sake of enjoyment, interest, or satisfaction inherent in the activity itself, rather than for some separable consequence.

Extrinsic Motivation

Motivation driven by external rewards or pressures rather than by intrinsic interest or enjoyment in the task itself.

Self-Disclosure

The act of revealing personal, private information about oneself to others, which can deepen relationships and build trust.

Semistarvation

A state of severe undernourishment causing noticeable physiological and psychological effects due to lack of adequate food intake.