A company's inventory records report the following in November of the current year: On November 8,it sold 12 units for $54 each.Using the perpetual LIFO inventory method,what amount of gross profit was earned from the 12 units sold?
A)$577
B)$260
C)$366
D)$438
E)$388

Question

A company's inventory records report the following in November of the current year:  On November 8,it sold 12 units for $54 each.Using the perpetual LIFO inventory method,what amount of gross profit was earned from the 12 units sold?
A)$577 
B)$260 
C)$366 
D)$438 
E)$388

Quizplus · Accepted Answer

The Answer of A company's inventory records report the following in November of the current year:  On November 8,it sold 12 units for $54 each.Using the perpetual LIFO inventory method,what amount of gross profit was earned from the 12 units sold?
A)$577 
B)$260 
C)$366 
D)$438 
E)$388

A Company's Inventory Records Report the Following in November of the Current