A Company Had the Following Purchases and Sales During Its

question 199

Multiple Choice

A company had the following purchases and sales during its first year of operations:
$$\begin{array} { | l | l | l | } \hline & \text { Purchases } & \text { Sales } \\\hline \text { January: } & 10 \text { units at } \$ 120 & 6 \text { units } \\\hline \text { February: } & 20 \text { units at } \$ 125 & 5 \text { units } \\\hline \text { May: } & 15 \text { units at } \$ 130 & 9 \text { units } \\\hline \text { September: } & 12 \text { units at } \$ 135 & 8 \text { units } \\\hline \text { November: } & 10 \text { units at } \$ 140 & 13 \text { units } \\\hline\end{array}$$
On December 31,there were 26 units remaining in ending inventory.
-Using the Periodic LIFO inventory valuation method,what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)

• A) $3,405.
• B) $3,270.
• C) $3,200.
• D) $3,364.
• E) $5,400.

---

Definitions:

Japanese Management Practices

A set of business strategies and workplace philosophies often associated with Japan, emphasizing teamwork, quality circles, and continuous improvement.

Manufacturing Plants

Facilities that are involved in the production of goods on a large scale through the combination of labor, machines, and chemical or biological processing.

Social Psychologists

Researchers or professionals who study how people's thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others.

Interpersonal Attraction

A social psychology concept involving a positive feeling towards another person, which can be influenced by physical attractiveness, similarity, and other factors.