Vango,Incsells Part Number 86Z to Auto Parts Stores Around the World.Information

question 72

Multiple Choice

Vango,Inc.sells part number 86Z to auto parts stores around the world.Information about part number 86Z is contained in the table below.Vango uses a LIFO periodic inventory system. Determine the cost of goods sold and ending inventory value of part 86Z,if 4,000 units remain unsold in inventory at the end of the accounting period.

• A)Cost of goods sold is $49,200 and ending inventory is $34,400.
• B)Cost of goods sold is $34,400 and ending inventory is $49,200.
• C)Cost of goods sold is $50,160 and ending inventory is $33,440.
• D)Cost of goods sold is $51,200 and ending inventory is $32,400.

---

Definitions:

Budget Performance Reports

Periodic reports comparing budgeted amounts to actual amounts for a specific period, and the analysis of variances to make informed financial management decisions.

Vice President

An officer in government or business who is below a president in rank, responsible for specific departments or functions.

Plant Managers

Individuals responsible for overseeing the operations of a manufacturing facility or plant, ensuring efficient production processes.

Direct Operating Expenses

Costs directly associated with the operation of a business, such as wages and materials, but excluding indirect expenses like administrative costs.