Lauer Corporation Uses the Periodic Inventory System and Has Provided

question 17

Multiple Choice

Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers: $\begin{array}{clrr}\text { Date }&\text { Transaction } &\text { Number of Units }&\text { Cost per Unit }\\\hline1 / 1 & \text { Beginning Inventory } & 100 & \$ 800 \\5 / 5 & \text { Purchase } & 200 & \$ 900 \\8 / 10 & \text { Purchase } & 300 & \$ 1,000 \\10 / 15 & \text { Purchase } & 200 & \$ 1,050\end{array}$ During the year, Lauer sold 750 laptop computers. What was ending inventory using the LIFO cost flow assumption?

• A) $40,000.
• B) $45,000.
• C)$55,000.
• D)$60,000.

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Definitions:

Recent Information

Information or data about events or developments that have occurred in the near past, which can significantly impact decision-making processes and market movements.

Limits To Arbitrage

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Siamese Twin Companies

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Closed-end Funds

Type of investment fund with a fixed number of shares that trade on a stock exchange, unlike open-end funds that continuously issue new shares or redeem existing shares.