Eneri Company's Inventory Records Show the Following Data A Physical Inventory on December 31 Shows 4,000 Units on Units

question 167

Multiple Choice

Eneri Company's inventory records show the following data: $\begin{array}{lcrr}&\text { Units }&\text { Unit Cost }\\\text { Inventory, January 1 } & 10,000 & \$ 9.20 \\\text { Purchases: } \text { June 18 } & 9,000 & 8.00 \\ \text { November 8 } & 6,000 & 7.00\end{array}$ A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. Under the LIFO method, cost of goods sold is

• A) $28,000.
• B) $169,200.
• C) $173,040.
• D) $178,000.

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Globalization

The method through which individuals, businesses, and governments across the globe communicate and merge.

Industrialized Nations

Countries that have undergone industrialization, characterized by significant economic growth through the development of manufacturing and services industries.

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A theory suggesting that economic development leads to predictable cultural and social changes towards a modern state similar to Western societies.

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