Unitech has the following inventory information. A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is
A) $580.
B) $620.
C) $1,380.
D) $1,420.

Question

Unitech has the following inventory information.  A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is
A) $580. 
B) $620. 
C) $1,380. 
D) $1,420.

Quizplus · Accepted Answer

The Answer of Unitech has the following inventory information.  A physical count of merchandise inventory on July 31 reveals that there are 30 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is
A) $580. 
B) $620. 
C) $1,380. 
D) $1,420.

Unitech Has the Following Inventory Information