[The Following Information Applies to the Questions Displayed Below

question 96

Multiple Choice

[The following information applies to the questions displayed below.]
Beech Soda,Inc.uses a perpetual inventory system.The company's beginning inventory of a particular product and its purchases during the month of January were as follows:
On January 14,Beech Soda,Inc.sold 25 units of this product.The other 28 units remained in inventory at January 31.
-Assuming that Beech Soda uses the LIFO cost flow assumption,the cost of goods sold to be recorded at January 14 is:

• A)$393.
• B)$268.
• C)$278.
• D)$673.

---

Definitions:

Leading Question

A question that suggests the answer or contains the information the questioner is looking to have confirmed.

Hostile Witnesses

Witnesses in a legal proceeding who show bias against the party calling them to testify, often leading to contrary or unhelpful testimony.

Peremptory Challenges

The right of attorneys during jury selection to reject a certain number of potential jurors without stating a reason.

Civil Trial

A judicial process to resolve disputes between parties over legal rights, typically not involving criminal charges.