Lionworks Enterprises Had the Following Inventory Data

question 5

Multiple Choice

Lionworks Enterprises had the following inventory data:

Assuming LIFO,what is the cost of goods sold for the July 7 sale?

• A)$648
• B)$654
• C)$660
• D)$645

---

Definitions:

Need Deprivation

A psychological condition resulting from the lack of fulfillment of basic human needs, affecting behavior and motivation.

Equity Theory

A theory that proposes individuals are motivated by a sense of fairness in the comparison of their own input-output ratio to that of others.

Perceived Inequity

A feeling experienced by employees when they believe the rewards they receive are not proportional to their contributions when compared to others.

Contribution

The effort or impact an individual or group provides towards achieving the objectives of an organization.