Effie Company Uses a Periodic Inventory System

question 182

Multiple Choice

Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: An end of the month (1/31/18) inventory showed that 160 units were on hand. If the company uses LIFO, what is the value of the ending inventory?

• A) $800
• B) $832
• C) $848
• D) $868

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