Intangible assets:

• Cannot be specifically identified.

• Cannot be sold.

• Lack physical properties.

• Have been depreciated below their estimated salvage values.

Beech Soda, Incorporated uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows:

	Quantity	Unit Cost	Total Cost
Beginning inventory (January 1)	16	$ 10	$ 160
Purchase (January 11)	14	$ 12	168
Purchase (January 20)	23	$ 15	345
Total	53		$ 673

On January 14, Beech Soda, Incorporated sold 25 units of this product. The other 28 units remained in inventory at January 31.

Assuming that Beech Soda uses the LIFO cost flow assumption, the 28 units of this product in inventory at January 31 have a total cost of:

Multiple Choice

• $405.

• $395.

• $400.

• $410.

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