3. The following units of a particular item were pur- cha.sed and sold during the period:

Beginning inventory First purchase Second purchase First sale Third purchase Second sale 40 units at $20 50 units at $21 50 units at $22 110 units 50 units at $23 45 units What is the cost of the 35 units on hand at the end of the period as determined under the perpetual inventory system by the lifo costing method?

A. $715 C. $700 B. $705 D.$805.AppendixLO1