A Company Had 14 Units of Inventory at a Cost

question 179

Multiple Choice

A company had 14 units of inventory at a cost of $18 each on July 1. On July 3, the company purchased 19 units at $19 each. On July 7, the company purchased 15 units at $20 each. On July 9, the company sold 36 units for $63 each. Given this information, determine the cost of the 12 units remaining in inventory after the July 9 sale using the LIFO periodic inventory method.

• A)$673.
• B)$697.
• C)$228.
• D)$240.
• E)$216.

---

Definitions:

NATO

The North Atlantic Treaty Organization, a military alliance formed in 1949 comprising North American and European countries for mutual defense and security.

Women's Suffrage

The right of women to vote in elections, achieved through various movements and legislative changes over time.

Japanese History

The extensive and rich history of Japan, from its ancient Jomon culture through its feudal periods to its modern state as a significant global power.

Human Rights

Rights that are believed to belong justifiably to every person, including freedom, justice, and access to basic needs.