A company has the following: Dec. 1 Dec. 14 Dec. 19 Dec. 21 $104.00 O $110.50 $96.00 $89.50 Beginning balance O $100.00 Purchase Purchase Purchase Units 30 60 40 50 Cost per unit The company sold 100 units at $2.00 per unit on December 23. Assuming that a perpetual inventory system is used, what is the company's gross profit using LIFO? $1.00 $1.05 $1.10 $1.12

A company has the following: The company sold 100 units at $2.00 per unit on December 23. Assuming that a perpetual inventory system is used, what is the company's gross profit using LIFO? $104.00 $110.50 $96.00 $89.50 $100.00