Use This Information to Answer the Following Question A Periodic Inventory System Is Used

question 119

Multiple Choice

Use this information to answer the following question. $\begin{array}{rll}\text { Jan. } & 1 & \text { Inventory } \\& 8 & \text { Purchase } \\&17 & \text { Purchase } \\&25 & \text { Purchase } \\&& \text { Total sales }\end{array}\begin{array}{l}15 \text { units@\$4.00 } \\60 \text { units } @ \$ 4.40 \\30 \text { units } @ \$ 4.20 \\45 \text { units } @ \$ 4.80\\100 \text { units }\end{array}$

A periodic inventory system is used.
Ending inventory under LIFO is

• A) $452.
• B) $429.
• C) $214.
• D) $237.

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Definitions:

Compassion

A deep awareness of and sympathy for another's suffering, coupled with the desire to alleviate that suffering.

Animals

Multicellular, eukaryotic organisms of the kingdom Animalia that can move voluntarily and consume organic material.

Vegans

Individuals who refrain from using animal products and byproducts in their diet and daily life, often for ethical, health, or environmental reasons.

Dairy Products

Edible products made from the milk of mammals, such as cheese, yogurt, and butter.