Given the following data, calculate cost of goods sold using the FIFO costing method. Date Item Unit 1/1 Beginning inventory 33 units at $8 per unit 2/25 Purchase of inventory 12 units at $10 per unit 5/20 Purchase of inventory 25 units at $14 per unit 8/15 Purchase of inventory 5 units at $12 per unit 10/17 Purchase of inventory 12 units at $18 per unit 12/31 Ending inventory 18 units

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85.560%

step-by-step explanation:

conditional probability is defined as:

p(a|b) = p(a∩b) / p(b)

in other words, the probability that a occurs, given that b has occurred = the probability that both a and b occur / the probability that b occurs.

in this example:

p(turns 64 | turns 44) = p(turns 64 & turns 44) / p(turns 44).

if someone turns 64, they must have already turned 44, so:

p(turns 64 | turns 44) = p(turns 64) / p(turns 44)

on page 42, we see that of the original 100,000, 94944 turn 44, and 81234 turn 64.   therefore:

p(turns 64 | turns 44) = 81234 / 94944

p(turns 64 | turns 44) = 0.85560

hope this is what you were asking for!

step-by-step explanation: