A new company in its first

year of operations purchases

a single-type of products for

sale in the following

sequence, quantity and at

cost as shown: A 1st, 10 pcs,

P700 per unit, P7,000 total

costs;A_2nd, 15 pcs, P650 per

unit, P9,750 total costs;A_3rd,

20 pcs, P600 per unit,

P12,000 total costs;A 4th, 25

pcs, P550 per unit, P13,750

total costs;A 5th, 30 pcs,

P500 per unit, P15,000 total

costs. The company sells fifty

(50) of these items in total at

the end of the year. Q3: Using

LIFO, how much would be the

total cost of goods sold in the

income statement?

O a. 16,500

O b.28,750

O c. 31,500

O d. 26,000