Acompany had inventory on november 1 of 5 units at a cost of $24 each. on november 2, they purchased 14 units at $26 each. on november 6 they purchased 10 units at $29 each. on november 8, 11 units were sold for $59 each. using the lifo perpetual inventory method, what was the value of the inventory on november 8 after the sale

The value of the inventory is 458

Explanation:

First we need to calculate the inventory value before the sale.

24*5=120

26*14=364

29*10=290

290+364+120=774

The inventory valuation is $774 before the sale.

Now using the LIFO method we will use the units bought last as cost of goods sold so

10*29=290

1*26=26

11 units for 290+26=316

Ending Inventory value = Starting inventory value - cost of goods sold

So the cost of goods sold are 316, now we will subtract 316 from 774

774-316=458

The value of the inventory is 458

there was no passage listed but using the process of elimination i'd say it was d. the high economy would do the opposite. i don't see how low prices would affect it. high unemployment is possible but i feel d is the better answer.

explanation: doctrine of respondeat superior is a legal doctrine that is commonly used in tort. this principle makes an employer or principal legally responsible for the wrongful acts done by an employee or agent, if such acts occur within the scope of the employment or agency.