Diligent Ltd Had 5 Units of the Commodity Algo on Hand

question 14

Multiple Choice

Diligent Ltd had 5 units of the commodity Algo on hand at 1 September 2016.The following purchases and sales were made during September:
-What was the value of ending inventory of Algo,using the LIFO assumption in a periodic inventory system?

• A) $1580
• B) $1480
• C) $1460
• D) $1590

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Definitions:

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Parkinson's Disease

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Lewy Body Disease

A type of neurocognitive disorder that involves a buildup of clumps of protein deposits, called Lewy bodies, within many neurons. In addition to progressive cognitive problems, this disease features significant movement difficulties.

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