Sassy Saxophones Has the Following Inventory Data Assuming That a Periodic Inventory System Is Used What Is

question 109

Multiple Choice

Sassy Saxophones has the following inventory data: $$\begin{array} { r l l } \text { July } 1 & \text { Beginning inventory } & 50 \text { units at } \$ 120 \\5 & \text { Purchases } & 300 \text { units at } \$ 112 \\14 & \text { Sale } & 200 \text { units } \\21 & \text { Purchases } & 150 \text { units at } \$ 115 \\30 & \text { Sale } & 140 \text { units }\end{array}$$ Assuming that a periodic inventory system is used what is the amount allocated to ending inventory on a LIFO basis?

• A)$18320
• B)$18370
• C)$38480
• D)$38530

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Definitions:

Mexican Families

Kinship groups in Mexico, characterized by diverse structures, customs, and values, often with strong emphasis on extended family ties.

Canning and Packing Houses

Facilities where food items are processed, preserved, and packaged for distribution and sale.

Mexican Women

Refers to females originating from or living in Mexico, emphasizing the sociocultural, economic, and political aspects that affect their lives.

Ranchers

Individuals or entities engaged in raising livestock on a large area of land, primarily for meat production.