Butler Company Reported Ending Inventory at December 31, 2017 of $1,200,000

question 41

Multiple Choice

Butler Company reported ending inventory at December 31, 2017 of $1,200,000 under LIFO. It also reported a LIFO reserve of $210,000 at January 1, 2017, and $300,000 at December 31, 2017. Cost of goods sold for 2017 was $4,900,000. If Butler Company had used FIFO during 2017, its cost of goods sold for 2017 would have been

• A)$5,200,000.
• B)$4,990,000.
• C)$4,810,000.
• D)$4,600,000.

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Definitions:

Ecofeminist

A movement that combines ecological concerns with feminist perspectives, emphasizing the link between the exploitation of nature and the oppression of women.

Agricultural Societies

Human communities primarily engaged in farming and cultivation, relying on agriculture as their main source of food and income.

Human Centredness

An approach or perspective that places human beings at the center of considerations, often in the context of design, technology, or ethics.

Stewardship Worldview

A philosophy that emphasizes responsible management and care for the natural environment and resources.