The Following Lots of a Particular Commodity Were Available for Sale

question 101

Multiple Choice

The following lots of a particular commodity were available for sale during the year: $\begin{array}{ll}\text { Beginning inventory } & 10 \text { units at } \$ 60 \\\text { First purchase } & 25 \text { units at } \$ 65 \\\text { Second purchase } & 30 \text { units at } \$ 68 \\\text { Third purchase } & 15 \text { units at } \$ 75\end{array}$ The firm uses the periodic system and there are 25 units of the commodity on hand at the end of the year.
What is the amount of the inventory at the end of the year using the LIFO method?

• A) $1,685
• B) $1,575
• C) $1,805
• D) $3,815

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Definitions:

Total Emissions

The sum of all pollutants released into the environment, typically measured within a specific geographic area and time period.

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A tax imposed on the emission of pollutants, aimed at reducing the level of harmful emissions into the environment.

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The additional cost imposed on society as a whole by an additional unit of production.

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The percentage at which an individual or corporation is taxed, which can be applied to income, property, sales, and other taxes.