Alpha First Company Just Began Business and Made the Following

question 78

Multiple Choice

Alpha First Company just began business and made the following four inventory purchases in June: $\begin{array}{lrlr}\text { June } & 1 & 150 \text { units } & \$ 1,040 \\\text { June } & 10 & 200 \text { units } & 1,560 \\\text { June } & 15 & 200 \text { units } & 1,680 \\\text { June } &28 & 150 \text { units } & 1,320 \\&&&\$5,600\end{array}$ A physical count of merchandise inventory on June 30 reveals that there are 210 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is

• A)$1,456
• B)$1,508
• C)$1,848
• D)$1,824

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Definitions:

Income Brackets

Categories of income levels used to classify or tax individuals differently based on their earnings.

Null Hypothesis

A general statement or default position that there is no difference or effect, typically to be tested against an alternative hypothesis.

Income Bracket

Categories of income range used for tax purposes or to analyze economic data, showing the distribution of population by income levels.

Political Party

A group of individuals united by similar political goals and views, aiming to affect policy decisions by having their members elected into governmental positions.