King Costume uses a periodic inventory system. The company started the month with 9 masks in its beginning inventory that cost $12 each. During the month, King Costume purchased 51 additional masks for $14 each. At the end of the month, King counted its inventory and found that 5 masks remained unsold. Using the LIFO method, its cost of goods sold for the month is:
A. $60.
B. $770.
C. $762.
D. $752.
Answer: C
Business
You might also like to view...
Which of the following is not a method used by the Environmental Protection Agency (EPA) to enforce its regulations?
A. permits B. mandatory arbitration C. criminal complaints D. administrative fines
Business
SMS text messaging generates most of mobile marketing spending.
Answer the following statement true (T) or false (F)
Business
When the sales price per unit decrease, the breakeven point ____
A) decrease B) increase C) remain unchanged D) change based on the sale price per unit
Business
Despite multiple failures and setbacks, Terri perseveres in her efforts to solve an engineering problem. This is an example of which of the following?
a. market research b. team building c. grit d. pitching
Business