Given the Following Information,determine the Cost of the Inventory at June

question 131

Multiple Choice

Given the following information,determine the cost of the inventory at June 30 using the LIFO perpetual inventory method.
$$\begin{array} { | l | l | l | } \hline \text { June 1 } & \text { Beginning inventory } & 15 \text { units at } \$ 20 \text { each } \\\hline \text { June 15 } & \text { Sale of } 6 \text { units for } \$ 50 \text { each } & \\\hline \text { June 29 } & \text { Purchase } & 8 \text { units at } \$ 25 \text { each } \\\hline\end{array}$$
The cost of the ending inventory is:

• A) $200
• B) $220
• C) $380
• D) $275
• E) $300

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Definitions:

Blood Alcohol Content

The concentration of alcohol in one's bloodstream, used legally to assess intoxication for driving and other legal limits.

Stigmatizing

The action of branding someone or something as disgraceful or unacceptable based on certain characteristics or behaviors.

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A person's heritage or cultural background, including the nationality, culture, ancestry, and language(s) associated with their family or ancestors.

Social Diversion

Activities or behaviors intended to provide an escape from the routines of daily life or to distract from societal pressures and norms.