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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?

a- $9,350

b- $6,450

c- $2,212.50

d- $2,120

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