Dobler Company Uses a Periodic Inventory System An End of the Month (1/31/2022) Inventory Showed That 240

question 116

Multiple Choice

Dobler Company uses a periodic inventory system.Details for the inventory account for the month of January 2022 are as follows: $$\begin{array} { l l r r } & \underline { \text { Units } } & \underline{\text { Per unit price }} & \underline { \text { Total } } \\\text { Balance, } 1 / 1 / 2022 & 300 & \$ 5.00 & \$ 1,500 \\\text { Purchase, } 1 / 15 / 2022 & 150 & 5.30 & 795 \\\text { Purchase, } 1 / 28 / 2022 & 150 & 5.50 & 825\end{array}$$ An end of the month (1/31/2022) inventory showed that 240 units were on hand.If the company uses LIFO what is the value of the ending inventory?

• A)$1264
• B)$1200
• C)$1302
• D)$1920

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Definitions:

Déjà Vu

The feeling of having already experienced the present situation, a phenomenon that's often mysterious and hard to explain.

Anterograde Amnesia

A condition that prevents an individual from forming new memories after the onset of the condition, though memories from before the event may remain intact.

Infantile Amnesia

The inability of adults to recall memories from early childhood, typically before the age of 3 or 4.

Implicit Memory

A type of long-term memory that operates below conscious awareness, influencing thoughts, behaviors, and skills without deliberate recall.