Starlight Company has inventory of 8 units at a cost of $200 each on October 1. On October 2, it purchased 20 units at $205 each. 11 units are sold on October 4. Using the LIFO perpetual inventory method, what is the value of inventory after the October 4 sale?
A. $3,445.
B. $3,500.
C. $3,472.
D. $3,461.
E. $3,485.
Answer: A
You might also like to view...
Read the information about Moore Industries. If the company's revenues were $500,000 for the year ended December 31, 2016, how much were total expenses?
a. $160,000 b. $260,000 c. $640,000 d. $740,000
In establishing the project’s baseline, the time-phased budget ______.
A. allows us to identify the correct sequencing of tasks B. enables the project team to determine the points in the project when actual costs are likely to exceed budgeted costs C. identifies the individual work packages and tasks necessary to complete the project D. provides the managerial responsibilities for tasks in a project
Massive open online courses (MOOCs) are the latest version of online learning platforms.
Answer the following statement true (T) or false (F)
Accountants assume that the dollar's purchasing power is stable
Indicate whether the statement is true or false