Portey Company Portey Uses a Perpetual Inventory System and Had the Following

question 17

Multiple Choice

Portey Company
Portey uses a perpetual inventory system and had the following inventory transactions for the month of June.

- Refer to the information provided for Portey. If Portey uses the LIFO inventory costing method, ending inventory at June 30th is:

• A) $1,024.82
• B) $1,092.00
• C) $1,010.00
• D) $1,041.00

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Definitions:

Concrete Operational Stage

In Piaget’s theory, the stage of cognitive development (from about 7 to 11 years of age) during which children gain the mental operations that enable them to think logically about concrete events.

Egocentrism

The incapacity to distinguish between one's own viewpoint and that of another person.

Higher Levels

Refers to advanced stages or degrees of development, understanding, or achievement.

Lev Vygotsky

A psychologist best known for his theories on cognitive development, particularly the concept of the zone of proximal development and the importance of social interaction in learning.