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. $3,485.
B. $3,472.
C. $3,461.
D. $3,500.
E. $3,445.
Answer: E
You might also like to view...
Why would an indirect approach be better to use when the audience will be disappointed with the news?
A) An indirect approach is better at obscuring the bad news. B) An indirect approach eases the blow of the news and helps the reader accept the news. C) An indirect approach is more ethical than a direct approach for dealing with bad news. D) An indirect approach is better at limiting responsibility on the part of the organization. E) An indirect approach allows the opportunity for an apology in the body of the message.
Which of the following variances should not be interpreted as a measure of over or underutilization of facilities?
a. Variable overhead spending variance b. Fixed overhead budget variance c. Variable overhead efficiency variance d. Fixed overhead volume variance
The written request that begins a civil suit is called a summons.
a. true b. false
Check 21 is a federal law that is designed to enable banks to collect more checks electronically.
Answer the following statement true (T) or false (F)