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:

Unconditioned Stimulus

In classical conditioning, a stimulus that naturally triggers a reflexive response without prior learning.

Agoraphobia

A fear of being in situations in which help might not be available or escape might be difficult or embarrassing.

Obsession

A persistent, intrusive, and unwanted thought, urge, or image that causes significant anxiety or distress.

Compulsion

An uncontrollable urge to perform an act repeatedly, often a symptom of obsessive-compulsive disorder (OCD).