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Given the Following Information,determine the Cost of Goods Sold at November

Question 170

Essay

Given the following information,determine the cost of goods sold at November 30 using the LIFO perpetual inventory method.
November 3: 15 units were purchased at $8 per unit.
November 11: 18 units were purchased at $9.50 per unit.
November 15: 15 units were sold at $45 per unit
November 18: 30 units were purchased at $10.75 per unit
November 30: 20 units were sold at $55 per

Correct Answer:

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20 * 10.75= 215.00
...

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