A Company Had the Following Purchases and Sales During Its

question 153

Multiple Choice

A company had the following purchases and sales during its first year of operations: $$\begin{array} { | l | l | l | } \hline & \text { Purchases } & \text { Sales } \\\hline \text { January: } & 10 \text { units at } \$ 120 & 6 \text { units } \\\hline \text { February: } & 20 \text { units at } \$ 125 & 5 \text { units } \\\hline \text { May: } & 15 \text { units at } \$ 130 & 9 \text { units } \\\hline \text { September: } & 12 \text { units at } \$ 135 & 8 \text { units } \\\hline \text { November: } & 10 \text { units at } \$ 140 & 13 \text { units } \\\hline\end{array}$$ On December 31, there were 26 units remaining in ending inventory. Using the Periodic LIFO inventory valuation method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)

• A)$3,364.
• B)$3,405.
• C)$3,200.
• D)$5,400.
• E)$3,270.

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Definitions:

Phenomenological Position

A philosophical approach focusing on people's subjective experiences and interpretations of the world.

Phenomenal Field

The total personal perception of reality, including all experiences, influences, and perceptions that affect an individual's view of the world.

Anatta

A Buddhist concept meaning "not-self" or the absence of a permanent, unchanging soul.

Singular Self

The concept of having a unified, cohesive identity or sense of self that remains constant across different contexts and over time.