A Company Had Inventory of 10 Units at a Cost

question 98

Multiple Choice

A company had inventory of 10 units at a cost of $20 each on November 1. On November 2, it purchased 10 units at $22 each. On November 6 it purchased 6 units at $25 each. On November 8, it sold 22 units for $54 each. Using the FIFO perpetual inventory method, what was the cost of the 22 units sold?

• A) $470.
• B) $490.
• C) $450.
• D) $570.
• E) $520.

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The Wechsler Adult Intelligence Scale-Third Edition, a widely used tool for measuring adult intelligence.