Oscar Industries Has the Following Inventory Information Assuming That a Periodic Inventory System Is Used What Is

question 203

Multiple Choice

Oscar Industries has the following inventory information. $\begin{array}{rll}\text { July } 1 & \text { Beginning Inventory } & 40 \text { units at } \$ 110 \\5 & \text { Purchases } & 240 \text { units at } \$ 112 \\14 & \text { Sale } & 160 \text { units } \\21 & \text { Purchases } & 120 \text { units at } \$ 115 \\30 & \text { Sale } & 150 \text { units }\end{array}$
Assuming that a periodic inventory system is used what is the amount allocated to ending inventory on a LIFO basis?

• A) $10350
• B) $10000
• C) $35080
• D) $34730

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Definitions:

Biological Argument

A perspective that attributes behaviors, roles, or characteristics mainly to biological factors, such as genetics or physiology.

Sociological Argument

A reasoned discourse that aims to explain social phenomena by analyzing patterns, relationships, and structures within society, often backed by empirical evidence.

Male-desire Argument

A theoretical perspective suggesting that societal norms and media often reflect male preferences and desires, shaping gender roles and expectations.

Survival Argument

A rationale used in various contexts to justify actions or policies based on the necessity of survival or continued existence.