Lois's Furniture Uses a Periodic Inventory System

question 8

Multiple Choice

Lois's Furniture uses a periodic inventory system. Lois sold 45 tables during August. Other data for August include: Ending inventory under the LIFO method is:

• A) $6,440.
• B) $5,550.
• C) $2,590.
• D) $1,700.

---

Definitions:

Project Manager

A professional responsible for planning, executing, and closing projects, overseeing the project team, timeline, resources, and deliverables.

High-performance Work Systems

A set of management practices designed to create an environment where employees can effectively utilize their skills and abilities to achieve high levels of performance.

Social System

An organized and interdependent set of roles, norms, and processes that people use to interact and cooperate within a society or a specific group.

Technical System

Integrated collection of technological tools, processes, and procedures used within an organization to achieve business objectives.