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A firm has two production runs a year to create inventory for sale. In the first run, 300,000 units are made at a unit cost
A firm has two production runs a year to create inventory for sale. In the first run, 300,000 units are made at a unit cost of $2. In the second run, 300,000 units are made at a unit cost of $2.10. Over the course of the year, the firm sells 450,000 units. Under LIFO the cost of goods sold is:
- A. $300,000
- B. $600,000
- C. $930,000
- D. $915,000
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