A Company Had Inventory on November 1 of 5 Units

question 177

Multiple Choice

A company had inventory on November 1 of 5 units at a cost of $20 each. On November 2, they purchased 10 units at $22 each. On November 6 they purchased 6 units at $25 each. On November 8, 8 units were sold for $55 each. Using the LIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale?

• A) $304
• B) $288
• C) $296
• D) $280
• E) $276

---

Definitions:

Mobile Technology

A term that refers to the various types of cellular communication technology devices, including smartphones, tablets, and wearable devices.

HR Apps

Software applications designed to facilitate human resources functions, such as recruitment, payroll, and employee management.

Talent Management

A systematic process of attracting, developing, and retaining skilled employees to meet organizational needs.

Technology Solution

A specific application of technology designed to address a particular problem or need within an organization or societal context.