Dobler Company Uses a Periodic Inventory System

question 91

Multiple Choice

Dobler Company uses a periodic inventory system.Details for the inventory account for the month of January 2022 are as follows: An end of the month (1/31/2022) inventory showed that 240 units were on hand.If the company uses LIFO, what is the value of the ending inventory?

• A)$1,264
• B)$1,200
• C)$1,302
• D)$1,920

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Definitions:

Canada

A country in North America known for its vast landscapes, multicultural cities, and as a member of the Commonwealth, with a parliamentary democracy and a constitutional monarchy.

Subtle and Overt

Describes actions or behaviors that can be either not easily perceived or hidden (subtle) or openly displayed and apparent (overt).

Norm of Reciprocity

A social norm that suggests individuals respond to each other in kind, rewarding kind actions with kindness in return.

Obligated to Reciprocate

A moral or legal duty to return a favor or respond in kind to an action or deed done by another.