Effie Company Uses a Periodic Inventory System

question 130

Multiple Choice

Effie Company uses a periodic inventory system.Details for the inventory account for the month of January 2022 are as follows: An end of the month (1/31/22) inventory showed that 160 units were on hand.If the company uses LIFO, what is the value of the ending inventory?

• A)$800
• B)$832
• C)$848
• D)$868

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Definitions:

KUB

An abbreviation for Kidney, Ureter, and Bladder X-ray, an imaging test for assessing the abdominal area.

Chronic Kidney Disease

A progressive loss of kidney function over a period of months or years, often resulting in the need for dialysis or kidney transplant.

Kidney Transplant Rejection

A condition where the recipient's immune system identifies the transplanted kidney as foreign and attacks it, potentially leading to transplant failure.

Urinary Bladder Stone

A solid concretion that forms in the urinary bladder from the crystallization of minerals in urine.