Diligent Ltd Had 5 Units of the Commodity Algo on Hand

question 18

Multiple Choice

Diligent Ltd had 5 units of the commodity Algo on hand at 1 September 2016. The following purchases and sales were made during September:

What was the value of ending inventory of Algo, using the LIFO assumption in a periodic inventory system?

• A) $1580
• B) $1480
• C) $1460
• D) $1590

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Definitions:

Classroom

A room or environment where teaching and learning activities are conducted.

Response Cost

A behavior modification technique that involves the loss of a privilege or desired item as a consequence for undesirable behavior.

Classroom

A room or environment where teaching and learning activities occur, often within schools or educational institutions.

Desirable System

A system that is preferred or favorable due to its efficiency, effectiveness, or beneficial qualities.