Anton co. uses the perpetual inventory system and fifo cost flow method. during the year, anton purchased 400 units of inventory that cost $12.00 each and then purchased an additional 600 units of inventory that cost $16.00 each. if anton sells 700 units of inventory, what is the amount of cost of goods sold? a.$11,200.b.$10,400.c.$8,400.d.$9,6 00.

Option (D) $9,600

Explanation:

Data provided in the question:

Initial units purchased = 400 @ $12.00 each

Additional units purchased = 600 @ $16.00 each

Number of units sold = 700

Now,

Using the FIFO cost flow method

Out of the 700 units sold,

units sold from Initial purchase will be 400 and the remaining units i.e (700 - 400) 300 units will be sold from the additional purchase

Thus,

Amount  of cost of goods sold

= ( 400 × $12 ) + ( 300 × $16 )

= $4,800 + $4,800

= $9,600

Hence,

Option (D) $9,600

a naked warrant, also known as a covered warrant, is a derivative that allows the holder to buy or sell a security, such as a bond or share. unlike a normal warrant, it is not attached to a newly issued bond or preferred stock.

unsecured bonds: they are not secured by a specific asset, but rather by "the full faith and credit" of the issuer. in other words, the investor has the issuer's promise to repay but has no claim on specific collateral. debt, such as unsecured bond debt, is said to be “subordinated,” or junior, to secured debt.

answer; the above statement/question is ( true);