Given the Following Information, Determine the Cost of the Inventory

question 179

Multiple Choice

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

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

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Definitions:

Genetically Similar

Describes organisms that share a high degree of similarity in their genetic makeup or DNA sequences.

Remained Isolated

The state in which a population or species has been geographically separated from others, leading to limited genetic exchange.

Gluteus Maximus

The largest and most superficial of the three gluteal muscles, situated in the buttocks, responsible for movement of the hip and thigh.

Enlarged

Refers to an increase in size or volume, commonly used to describe a change in physical dimensions of an object or organism.