A Company Has Inventory of 10 Units at a Cost

question 179

Multiple Choice

A company has inventory of 10 units at a cost of $10 each on June 1. On June 3, it purchased 20 units at $12 each. 12 units are sold on June 5. Using the FIFO perpetual inventory method, what is the cost of the 12 units that were sold?

• A) $120.
• B) $124.
• C) $128.
• D) $130.
• E) $140.

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Definitions:

Stereotypical Roles

Traditional or clichéd societal expectations and behaviors assigned to individuals based on their gender, race, or social status.

Cultural Appropriation

The adoption or use of elements of one culture by members of another culture, often without understanding or respecting the original cultural context.

Cultural Normalization

The process by which certain behaviors, values, or norms become integrated and accepted within a society or culture as standard or typical.

Slice Of Life

A narrative technique in advertising that presents an idealized or realistic scenario from everyday life to forge a connection with the audience.