Nichols Company Had 400 Units of "Dink" in Its Inventory

question 32

Multiple Choice

Nichols Company had 400 units of "Dink" in its inventory at a cost of $12 each. It purchased 600 more units of "Dink" at a cost of $18 each. Nichols then sold 700 units at a selling price of $30 each. The LIFO liquidation overstated normal gross profit by

• A) $ -0-
• B) $ 600.
• C) $1,200.
• D) $1,800.

---

Definitions:

Lightweight Putter

A golf club designed with reduced weight to improve control and accuracy on the green.

Customer Input

The feedback or data provided by customers used to improve or develop products and services.

Customized Business Software

Software that is specifically designed and developed to meet the unique requirements and workflows of a particular business or organization.

New Product Ideas

Concepts or proposals for goods or services that are not yet developed or marketed, often emerging from research, customer feedback, or innovative thinking.