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

Recognize the importance of creativity and mental flexibility in generating and refining ideas.

Identify the characteristics, process, and significance of opportunity recognition in entrepreneurship.

Understand the concept of pattern recognition and its role in identifying business opportunities.

Learn the significance of prior knowledge and alertness in the entrepreneurial process.

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Definitions:

Project Risk

Potential problems that could endanger the success of a project, including uncertainties and potential negative events.

Organizational Risk

Refers to the potential for losses or other adverse outcomes that an organization may face due to various internal and external factors.

Strategic Risk

Involves risks that affect the long-term goals, direction, and overall strategy of an organization.

Contractual Risks

The potential for losses or liabilities arising from the terms and conditions of a contract, including breaches, misinterpretations, and the failure of parties to fulfill their obligations.