A Company Had 22 Units at a Cost of $26

question 23

Multiple Choice

A company had 22 units at a cost of $26 each in inventory on March 1. On March 2, the company purchased 27 units at $27 each. On March 6, the company purchased 23 units at $28 each. On March 8, the company sold 52 units for $71 each. Given this information, determine the cost of the 20 units remaining in inventory after the March 8 sale using the LIFO periodic inventory method.

• A)$520
• B)$560
• C)$1,436
• D)$1,425
• E)$540

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Definitions:

Creativity

Creativity is the ability to produce original, diverse, and valuable ideas or solutions.

Groupthink

A psychological phenomenon that occurs within a group of people in which the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Conformity

The act of aligning one's attitudes, beliefs, or behaviors with those of a group due to perceived pressure or the desire for acceptance.

Conflicts

Disagreements or disputes between individuals or groups due to differing needs, beliefs, or interests.