Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2015 are as follows: An end of the month (1/31/15) inventory showed that 160 units were on hand. If the company uses LIFO, what is the value of the ending inventory?
A)$800
B)$832
C)$848
D)$868

Question

Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2015 are as follows:  An end of the month (1/31/15) inventory showed that 160 units were on hand. If the company uses LIFO, what is the value of the ending inventory?
A)$800 
B)$832 
C)$848 
D)$868

Quizplus · Accepted Answer

The Answer of Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2015 are as follows:  An end of the month (1/31/15) inventory showed that 160 units were on hand. If the company uses LIFO, what is the value of the ending inventory?
A)$800 
B)$832 
C)$848 
D)$868

Effie Company Uses a Periodic Inventory System