Graham Company Uses a Periodic Inventory System

question 119

Multiple Choice

Graham Company uses a periodic inventory system. Details for the inventory account for the month of January, 2010 are as follows: An end of the month (1/31/10) inventory showed that 120 units were on hand. If the company uses LIFO, what is the value of the ending inventory?

• A) $520
• B) $600
• C) $656
• D) $1,480

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Definitions:

Racial Discrimination

Unfair treatment of individuals based on their race or ethnicity.

Ethnic Discrimination

Unfair treatment of individuals based on their ethnicity, including prejudice, exclusion, or hostility.

Masculine Culture

Culture in which people tend to value traditional roles for men and women, achievement, assertiveness, heroism, and material wealth.

Achievement

The act of accomplishing a goal or reaching a significant milestone through effort, skill, or courage.