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Quan Uses a Periodic Inventory System

Question 107

Multiple Choice

Quan uses a periodic inventory system. At the end of April, Quan had 20 units on hand. Quan uses a periodic inventory system. At the end of April, Quan had 20 units on hand. If Quan uses the LIFO inventory method, how much is inventory on the balance sheet as of April 30? A) $40 B) $50 C) $58 D) $60 If Quan uses the LIFO inventory method, how much is inventory on the balance sheet as of April 30?


A) $40
B) $50
C) $58
D) $60

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