Excalibur Company Uses the Perpetual Inventory Method

question 77

Multiple Choice

Excalibur Company uses the perpetual inventory method.Excalibur Company has the following data available for the month of January: What is the Cost of Goods Sold for the month of January using LIFO?

• A)$778
• B)$810
• C)$762
• D)$766

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Definitions:

Gametophyte

Haploid generation of the alternation-of-generations life cycle of a plant; produces gametes that unite to form a diploid zygote.

Alternation of Generations

A reproductive cycle of certain plants and algae that involves a regular alternation between two distinct forms: the sexual phase (gametophyte) and the asexual phase (sporophyte).

Liverwort

Bryophyte with a lobed or leafy gametophyte and a sporophyte composed of a stalk and capsule.

Protonema

The initial stage in the life cycle of mosses and some algae, characterized by a thread-like chain of cells.