The Ending Inventory Assuming LIFO and a Periodic Inventory System

question 17

Multiple Choice

The ending inventory assuming LIFO and a periodic inventory system is:

• A)$1,580.
• B)$1,510.
• C)$1,575.
• D)$1,470.

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Definitions:

Street Cleanings

Municipality-provided services that remove dirt, litter, and debris from roads and public spaces to maintain cleanliness and sanitation.

Increases

Situations where there is a rise in the level, amount, or number of a certain variable or condition.

Public Good

A public good is a product or service that is non-excludable and non-rivalrous, meaning it can be used by many people simultaneously without diminishing its availability to others.

Nonexcludable

A characteristic of a good or service where it is impossible, or highly costly, to prevent someone from using it once it has been provided.