Eneri Company's Inventory Records Show the Following Data: a Physical

question 127

Multiple Choice

Eneri Company's inventory records show the following data: A physical inventory on December 31 shows 4,000 units on hand.Eneri sells the units for $13 each.The company has an effective tax rate of 20%.Eneri uses the periodic inventory method.Under the LIFO method, cost of goods sold is

• A)$28,000.
• B)$169,200.
• C)$173,040.
• D)$178,000.

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Definitions:

Social Cost

The total cost of an activity to society, including both private and external costs.

Private Cost

The costs that an individual or company incurs in the production of goods or services, excluding any externalities.

External Costs

Uncompensated costs incurred by someone who is not involved in the production or consumption of a good or service, typically relating to environmental damage or public health.

Market's Output

The total quantity of goods and services produced and offered for sale in a market during a specific period of time.