Use This Inventory Information for the Month of March to Answer

question 89

Multiple Choice

Use this inventory information for the month of March to answer the following question. Assume that a periodic inventory system is used.
What is ending inventory under the LIFO method?

• A)$1,680
• B)$1,980
• C)More information is needed.
• D)$2,720

---

Definitions:

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, intended to standardize legislation across states.

Article 2

A part of the Uniform Commercial Code (UCC) dealing specifically with the sale of goods in the United States.

Legally Binding

A term describing agreements or contracts that have legal force and can be enforced by law.

Contract

A legally enforceable agreement between two or more parties with mutual obligations.