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A companys inventory records report the following in November of the current year: Beginning November 1 5 units @ $20 . Purchase November 2 10
A companys inventory records report the following in November of the current year:
| Beginning | November 1 | 5 units @ $20 . |
| Purchase | November 2 | 10 @ $22 |
| Purchase | November 6 | 6 @ $25 |
On November 8, it sold 18 units for $54 each. Using the LIFO, what amount of gross profit was earned from the 18 units sold?
| $577 | ||
| $562 | ||
| $452 | ||
| $522 |
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