Use This Information to Answer the Following Question

question 11

Multiple Choice

Use this information to answer the following question. A periodic inventory system is used.
Using LIFO,the cost assigned to ending inventory is

• A) $1,740.
• B) $4,056.
• C) $1,332.
• D) $4,464.

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Definitions:

Violate

To break or fail to comply with a rule, law, agreement, or principle.

Subsurface Rights

Legal rights to use and exploit the area beneath the surface of a piece of land, including the rights to extract minerals, oil, and gas.

Pass Title

The transfer of ownership rights of a property or asset from one party to another, typically through a legal document or deed.

Subsurface Rights

Legal rights to the minerals, oil, gas, and other resources located below the surface of a piece of property.