Use This Information to Answer the Following Question

question 61

Multiple Choice

Use this information to answer the following question. A periodic inventory system is used.
Using LIFO, the cost assigned to ending inventory is

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

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Definitions:

Balance Scale

A device for weighing, consisting of a beam balanced on a fulcrum, from each end of which hangs a pan or tray.

Superego

A component of Sigmund Freud's psychoanalytic theory, representing the moral conscience and ideals acquired from parents and society.

Ego

The part of the mind that mediates between conscious and unconscious thoughts, balancing desires based on reality.

Id

In psychoanalytic theory, the part of the personality that is the source of instinctual impulses and demands for immediate satisfaction of primitive needs.