In 20B, Landings, Inc

question 31

Multiple Choice

In 20B, Landings, Inc. provided the following items in their footnotes. Their cost of goods available for sale was $4.5 billion under FIFO costing and their ending inventory value under FIFO costing was $2.1 billion. Their purchases were $4.1 billion. What was their opening inventory?

• A) $0.4 billion
• B) $2.4 billion
• C) $2.0 billion
• D) $6.2 billion

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Definitions:

Stability and Change

The concept of how certain aspects of physical, cognitive, social, and emotional development remain stable over time, whereas others change.

Developmental Psychologists

Professionals who study the psychological growth and development that occurs throughout a lifespan.

Nature And Nurture

The debate regarding the influence of genetic inheritance (nature) versus environmental factors (nurture) on human development.

Developmental Process

The sequence of changes in physical, cognitive, and emotional growth that occur over a person's lifetime.