One Hundred Units of Inventory on Hand at the End

question 79

Multiple Choice

One hundred units of inventory on hand at the end of the year are recorded at their cost of $10 each using LIFO.Current replacement cost is $8.00.What amount would be reported as Inventory on the balance sheet?

• A) $1,000.00
• B) $10.00
• C) $800.00
• D) $8.00

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Definitions:

Civil Rights Act of 1964

Landmark U.S. legislation that outlawed discrimination based on race, color, religion, sex, or national origin, especially in the areas of employment and public accommodations.

Civil Rights Act

Landmark legislation in the United States that outlaws discrimination based on race, color, religion, sex, or national origin, primarily associated with the Act of 1964.

Sex stereotyping

Holding people to traditional expectations and behaviors based on their gender, which can result in discrimination and unfair treatment.

Gay and transgender employees

Workers who identify as homosexual or whose gender identity differs from the sex they were assigned at birth, and who may face specific legal protections or challenges in the workplace.