Refer to the Following Table to Answer the Questions That

question 33

Multiple Choice

Refer to the following table to answer the questions that follow.

-Given the same quantity of resources,what is Alicia Keys's opportunity cost of producing a New York pizza?

• A) 5/2 Philly cheesesteaks
• B) 2/5 Philly cheesesteak
• C) 3 Philly cheesesteaks
• D) 1/3 New York pizza
• E) 4/5 New York pizza

---

Definitions:

LIFO

An accounting methodology where the most recently produced or acquired inventory items are recorded as sold first.

Physical Flow

The movement and management of materials and products from procurement through production and delivery to customers.

Inventory

The goods and materials that a business holds for the ultimate goal of resale, representing one of the most important assets for companies dealing with physical products.