A Company Had 8 Units at a Cost of $12

question 197

Multiple Choice

A company had 8 units at a cost of $12 each in inventory on November 1. On November 2, the company purchased 13 units at $13 each. On November 6, the company purchased 9 units at $14 each. On November 8, the company sold 24 units for $57 each. Given this information, determine the cost of the 6 units remaining in inventory after the November 8 sale using the LIFO periodic inventory method.

• A)$78
• B)$319
• C)$336
• D)$72
• E)$84

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Definitions:

Graphical Analysis

The use of diagrams, charts, and graphs to visually represent data and analyze trends and patterns.

Domestic Consumers

Individuals or entities within a country that purchase goods and services primarily for personal use, not for export or resale.

World Trade Organization

An international organization designed to supervise and liberalize world trade, acting as a forum for negotiating trade agreements and a place for resolving trade disputes.

Domestic Employment

Jobs or positions of employment within a country's own borders, as opposed to international or overseas employment.