Eastview Company Uses a Perpetual LIFO Inventory System, and Has

question 16

Multiple Choice

Eastview Company uses a perpetual LIFO inventory system, and has the following purchases and sales: $$\begin{array} { | l | l | } \hline \text { January 1 } & 150 \text { units were purchased at \$9 per unit. } \\\hline \text { January 17 } & 120 \text { units were sold } \\\hline \text { January 20 } & 160 \text { units were purchased at \$11 per unit. } \\\hline \text { January 29 } & 150 \text { units were sold } \\\hline\end{array}$$
-What is the value of ending inventory?

• A) $2,670.
• B) $2,750.
• C) $380.
• D) $2,730.
• E) $440.

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Definitions:

Mollusks

A large phylum of invertebrate animals, including species like snails, clams, and squids, characterized by a soft body and, in many cases, a calcium carbonate shell.

Echinoderms

Invertebrates with a water–vascular system, and hardened plates and spines in the skin or body.

Annelids

A phylum of invertebrate worms characterized by segmented bodies and often found in moist environments; includes earthworms, leeches, and polychaetes.

Arthropods

represent the largest phylum of animals, including insects, arachnids, and crustaceans, characterized by exoskeletons and segmented bodies.