A Company Has Inventory of 15 Units at a Cost

question 84

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 perpetual inventory method, what is the value of the inventory at August 12 after the sale?

• A) $140.
• B) $160.
• C) $210.
• D) $380.
• E) $590.

---

Definitions:

Free Will

The concept that humans have the ability to make choices that are not determined by prior causes or by divine intervention.

Conscious Mind

The aspect of the mind that is aware of thoughts, feelings, and surroundings at any given moment.

Behaviors

Behaviors are the actions or reactions of an individual or a system in response to external or internal stimuli.

Positron-Emission Tomography

An imaging technique that uses radioactive substances to visualize and measure changes in metabolic processes, and hence, the functioning of organs and tissues.