Use the Following Information for Questions 130 and 131

question 24

Multiple Choice

Use the following information for questions 130 and 131.
Eaton Company, which uses the retail LIFO method to determine inventory cost, has provided the following information for 2014:
-Assuming that the price index was 105 at December 31, 2014 and 100 at January 1, 2014, what is the cost of Eaton's inventory at December 31, 2014 under the dollar-value-LIFO retail method?

• A) $267,380.
• B) $277,830.
• C) $280,610.
• D) $263,600.

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Definitions:

Latent Learning

Acquisition of knowledge that happens without apparent rewards or reinforcements for the behaviors or associations being learned.

Operant Conditioning

A technique in teaching that relies on the application of rewards and disciplining to influence behavior.

Observational Learning

The process of learning behaviors by watching and imitating others, also known as modeling.

Operant Conditioning

The technique by which learning adjusts the vigor of an action through the employment of reinforcement or discouragement.