Beryl Co. uses a periodic inventory system and has the following information in regard to its inventory: Beginning inventory400 units @ $15$6,000 Purchase on January 25600 units @ $16 9,600 Purchase on March 15400 units @ $17 6,800 Purchase on October 2800 units @ $18 14,400 Goods available for sale $36,800 There are 1,000 units in ending inventory. What is the amount of the ending inventory using the LIFO method?
A. $14,400
B. $17,800
C. $6,000
D. $15,600
Answer: D
You might also like to view...
Marta finds a chest inscribed "Jack Sparrow" that contains $750,000 of cash while diving among the coral reefs off Key West, Florida. The U.S. Customs and the DEA denied knowledge of the cash, so Marta keeps it. I.Recognition will not occur because the windfall would not be considered as derived from capital or labor.II.The all-inclusive Income Concept explains the recognition of income from whatever source derived.?
A. Only statement I is correct. B. Only statement II is correct. C. Both statements are correct. D. None of the statements are correct.
Which of the following is an example of an organization's brand-related objective?
A) developing market share in new market Y from 0% to 10% within one year B) improving perceived quality, as evidenced by third party analyst rating increasing from ranking #5 to ranking #2 in analyst report X C) increasing the portion of the market controlled in new market Y from 0% to 12% within one year D) adding a new luxury product line to target high-end customer
What is the minimum hourly wage stipulated by the Fair Labor Standards Act in 2009?
A) $15.25 B) $2.25 C) $7.25 D) $12.25
Conducting an on-the-spot worksite safety inspection by OSHA inspectors is an example of acquiring information by:
a. indirect observation b. direct observation c. power of subpoena d. direct enforcement e. obvious observation