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Effie Company Uses a Periodic Inventory System

Question 119

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Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2015 are as follows: 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 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

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