Diligent Ltd Had 5 Units of the Commodity Algo on Hand

question 9

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 perpetual inventory system?

• A) $1460
• B) $1480
• C) $1580
• D) $2400

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Definitions:

Objective Function

A mathematical expression that defines the goal of an optimization problem, often involving the maximization or minimization of some quantity.

Distribution Network

A system of storage facilities and transportation logistics that moves goods from manufacturers to consumers.

Raw Material

Basic material from which a product is made, typically unprocessed or minimally processed before being used in manufacturing processes.

Routes

The paths or courses taken by goods or vehicles from one point to another, often optimized to improve efficiency and reduce costs in logistics and transportation.