Right Images Printing Uses Perpetual LIFO in Valuing Its Inventory

question 12

Multiple Choice

Right Images Printing uses perpetual LIFO in valuing its inventory.The January 1 inventory amounted to 36 units at $6 each.Purchases and sales during January were as follows: $\begin{array}{llll}&\text { Purchases }&&\text { Sales }\\ \text { Jan. } 10 & 20 \text { units } @ \$ 8 & \text { Jan. } 5 & 10 \text { unit } \\17 & 24 \text { units } @ \$ 10 & 15 & 22 \text { unit }\end{array}$
The cost of the ending inventory was

• A)$424
• B)$312
• C)$384
• D)$336

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Definitions:

IT Department

The division within an organization that is charged with managing information technology and computer systems.

Task Analysis

A detailed, step-by-step description of precisely what a trainee should do and know in order to perform a particular skill.

Organize Content

The process of arranging or structuring information or material in a coherent and logical manner for effective communication or comprehension.

Determine Methods

The process of deciding or establishing the means by which a goal will be achieved.