Quan Uses a Periodic Inventory System

question 202

Multiple Choice

Quan uses a periodic inventory system.At the end of April,Quan had 20 units on hand. If Quan uses the LIFO inventory method,how much is inventory on the balance sheet as of April 30?

• A)$40
• B)$50
• C)$58
• D)$60

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Definitions:

Equity Carve-out

A strategic corporate action where a company sells a percentage of the interest of a subsidiary to outside investors, thereby offering it publicly while retaining control.

Market Price

The current price at which an asset or service can be bought or sold.

Public Stockholders

Individuals and institutions that own shares of stock in a publicly traded company, making them partial owners.

Going Public

This involves a private company offering its shares to the public in a new stock issuance, allowing it to raise capital from public investors.