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

Date	Activities	Units Acquired at Cost	Units Sold at Retail
November 1	Beginning inventory	5 units @ $44 = $220
November 2	Purchase	10 units @ $46 = $460
November 8	Sales		12 units @ $78
November 12	Purchase	6 units @ $49 = $294

Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 12 units sold?

rev: 08_26_2021_QC_CS-270883

Multiple Choice

• $494

• $548

• $570

• $356

• $426