Effie Company Uses a Periodic Inventory System

question 53

Multiple Choice

Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2018 are as follows: An end of the month (1/31/18) inventory showed that 160 units were on hand. If the company uses LIFO, what is the value of the ending inventory?

• A) $800
• B) $832
• C) $848
• D) $868

---

Definitions:

CSCO

The stock ticker symbol for Cisco Systems, Inc., a multinational technology conglomerate.

Risk-Free Rate

The theoretical rate of return of an investment with zero risk of financial loss, often represented by the yield on short-term government securities.

Expected Rate of Return

The anticipated return on an investment, calculated as the average of probable returns weighted by their likelihood.

CSCO

An abbreviation for Cisco Systems, Inc., a multinational technology conglomerate known for its networking hardware, software, and telecommunications equipment.