Alpha First Company Just Began Business and Made the Following

question 162

Multiple Choice

Alpha First Company just began business and made the following four inventory purchases in June: A physical count of merchandise inventory on June 30 reveals that there are 210 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is

• A) $1,092
• B) $1,131
• C) $1,386
• D) $1,368

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Definitions:

Former Slaves

Individuals who were once enslaved but gained freedom through various means such as emancipation, legal changes, or escape.

Landownership

The possession of land by an individual, organization, or government, including the rights to use, rent, or sell it.

Voting Rights

The legal rights granted to individuals enabling them to vote in political elections.