Atom Company Just Began Business and Made the Following Four

question 217

Multiple Choice

Atom 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 200 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is

• A) $1,105.
• B) $1,100.
• C) $1,170.
• D) $1,180.

---

Definitions:

Abstract Reasoning

The ability to analyze information, detect patterns and relationships, and solve problems on a complex, abstract level.

Moral Development

The growth of an individual's understanding of the principles and values that guide responsible behavior.

Lawrence Kohlberg

A psychologist best known for his theory of the stages of moral development, which describes how individuals evolve in their understanding of morality.

Universal Human Rights

The idea that all human beings are entitled to certain rights and freedoms, regardless of their nationality, sex, national or ethnic origin, race, religion, language, or any other status.