In 2019,Richard's Department Store Changes Its Inventory Method from FIFO

question 102

Multiple Choice

In 2019,Richard's Department Store changes its inventory method from FIFO to LIFO.Richard's uses the simplified LIFO method.Richard's year-end inventory under FIFO is as follows: 2018 - $300,000; 2019 - $350,000.The 2018 price index is 110% and the 2019 index is 120%.The 2019 ending inventory after adopting the LIFO method is

• A)$350,000.
• B)$320,833.
• C)$381,818.
• D)$322,727.

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Definitions:

Incoming Signal

An external or internal stimulus that is received and processed by a biological, mechanical, or electronic system.

Hemispheres

Rephrased: The two symmetrical halves of the brain or certain organs, each performing specific functions and controlling different aspects of sensory and motor skills.

Acetylcholine

A neurotransmitter in both the central and peripheral nervous systems that is involved in many functions including muscle stimulation, memory, and learning.

Dopamine

A neurotransmitter involved in many functions, including motivation, reward, attention, and the regulation of movements.