Addison, Inc

question 103

Multiple Choice

Addison, Inc. uses a perpetual inventory system. The following is information about one inventory item for the month of September: If Addison uses LIFO, the cost of the ending merchandise inventory on September 30 is

• A) $800
• B) $650
• C) $750
• D) $700

---

Definitions:

Proactive and Retroactive Inhibition

Forms of interference where old information interferes with the learning of new information (proactive) and where new information causes forgetting of old information (retroactive).

New Long-Term Memories

The process of converting new information into a state that can be recalled after a period of time, involving the consolidation and storage of information.

Old Memories

Stored recollections from the past that can influence current behavior and thought processes, sometimes fading or distorting over time.

Episodic Memory

A form of permanent memory focused on recalling individual events, conditions, and lived experiences.