Starlight Company Has Inventory of 8 Units at a Cost

question 118

Multiple Choice

Starlight Company has inventory of 8 units at a cost of $200 each on October 1. On October 2, it purchased 20 units at $205 each. 11 units are sold on October 4.
- Using the LIFO perpetual inventory method, what is the value of inventory after the October 4 sale?

• A) $3,500.
• B) $3,485.
• C) $3,472.
• D) $3,445.
• E) $3,461.

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Definitions:

Intrinsic Motivation

The drive to engage in activities for their own sake, out of interest or enjoyment, rather than for external rewards or pressures.

Cooperation

The action of working together toward a common goal or benefit.

Control Bias

A tendency to overestimate one's ability to control events or outcomes, often leading to unrealistic expectations.

Cognitive Tasks

Mental activities that require thinking, problem-solving, decision-making, or memory.