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A company just starting business made the following inventory transactions in August: Purchase on August 1 300 units $1,560 Sale on August 8 200 units

A company just starting business made the following inventory transactions in August:

Purchase on August 1

300 units

$1,560

Sale on August 8

200 units

3,400

Purchase on August 12

400 units

1,340

Sale on August 24

350 units

5,950

Using the LIFO inventory method, how much is cost of goods sold for August using a perpetual inventory system?

$2,212.50

$2,120

$9,350

$6,450

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