A Company Has Inventory of 15 Units at a Cost

question 152

Multiple Choice

A company has inventory of 15 units at a cost of $12 each on August 1. On August 5, it purchased 10 units at $13 per unit. On August 12 it purchased 20 units at $14 per unit. On August 15, it 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:

Special Product Pattern

Patterns that emerge from multiplying polynomials in certain ways, making multiplication easier.

Polynomial Function

A mathematical expression consisting of variables, coefficients, and non-negative integer exponents, combined through addition, subtraction, and multiplication.

Dimensions

Dimensions refer to the measurable extents of an object, such as length, width, and height, used to describe its size or shape.

Expression Simplification

The process of making an algebraic expression more manageable by combining like terms and applying mathematical operations.