Use the Following Information for 121 and 122

question 47

Multiple Choice

Use the following information for 121 and 122
RF Company had January 1 inventory of $200,000 when it adopted dollar-value LIFO. During the year, purchases were $1,200,000 and sales were $2,000,000. December 31 inventory at year-end prices was $286,720, and the price index was 112.
-What is RF Company's ending inventory?

• A) $200,000.
• B) $256,000.
• C) $262,720.
• D) $286,720.

---

Definitions:

Cohesiveness

The quality of forming a united whole, especially in social groups, characterized by mutual agreement, solidarity, and attachment among members.

Urbanization

The process by which a community acquires the characteristics of city life.

World Population

The total number of human beings currently living on Earth, which is subject to change due to birth rates, death rates, and migration patterns.

Infant Mortality Rate

is a measure indicating the number of deaths of infants under one year of age per 1,000 live births in a given year, used as an important indicator of the health status of a population.