A company's inventory records report the following in November of the current year Beginning November 1 5 units $20 Purchase November 2 10 units $22 Purchase November 12 6 units $25 On November 8, it sold 12 units for $54 each Using the perpetual LIFO inventory method, what amount of gross profit was earned from the 12 units sold $366 $577 $388 $438 $260

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A company's inventory records report the following in November of the current year: Beginning November 1 5 units @ $20 Purchase November 2 10 units

A company's inventory records report the following in November of the current year:


Beginning	November 1	5 units @ $20
Purchase	November 2	10 units @ $22
Purchase	November 12	6 units @ $25

On November 8, it sold 12 units for $54 each. Using the perpetual LIFO inventory method, what amount of gross profit was earned from the 12 units sold?

$366

$577

$388

$438

$260

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