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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

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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 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? $9,350 $6,450 $2,212.50 $2,120

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