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

question 142

Multiple Choice

Use this information to answer the following question. $\begin{array}{rlrl}\text { Feb. }&1 & \text { Inventory } & 200 \text { units @ } \$ 6.00 \\&6 & \text { Purchase } & 300 \text { units @ } \$ 6.60 \\&13 & \text { Purchase } & 100 \text { units @ } \$ 7.20 \\&20 & \text { Purchase } & 200 \text { units @ } \$ 7.80 \\&25 & \text { Purchase } & 40 \text { units @ } \$ 8.40 \\&& \text { Total sales } & 620 \text { units }\end{array}$

A periodic inventory system is used.
Using LIFO,cost of goods sold is

• A) $1,740.
• B) $4,464.
• C) $1,332.
• D) $4,056.

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Definitions:

Antheridia

Male reproductive structures in plants, algae, and fungi that produce and release sperm.

Integuments

Layers or coverings of an organism or organ, serving to protect or enclose, especially the outer layer of seeds or the skin of humans and animals.

Megasporangium

A plant structure that produces megaspores, which develop into female gametophytes in seed plants and certain ferns.

Ovules

Small structures within the ovary of seed plants that develop into seeds upon fertilization.