Use This Inventory Information for the Month of March to Answer

question 102

Multiple Choice

Use this inventory information for the month of March to answer the following questions. $\begin{array}{rlll}\text { Mar. } &1& \text { Beginning inventory } & 20 \text { units @ } \$ 76 \\&7 & \text { Purchase } & 70 \text { units @ } \$ 80 \\&18 & \text { Sale } & 25 \text { units } \\&22 & \text { Purchase } & 10 \text { units @ } \$ 88 \\&29 & \text { Sale } & 40 \text { units }\end{array}$
Assuming that a perpetual inventory system is used,what is ending inventory on a LIFO basis?

• A) More information is needed.
• B) $5,120
• C) $2,720
• D) $2,880

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Definitions:

Long-Term Potentiation

A process that increases the strength of synapse connections, enhancing the ability to learn and remember.

Synaptic Responsiveness

The ability of synapses, the connections between neurons, to change in strength in response to increases or decreases in their activity.

Short-Term Memories

Memories that are held for a short period of time, typically seconds to minutes, before being forgotten or transferred to long-term memory.

Long-Term Memories

Memories that can last from a few days to a whole lifetime, involving the storage of information about past events, experiences, and learned skills.