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Aiello, Inc. had the following inventory in fiscal 2016. The company uses the LIFO method of accounting for inventory. -Beginning Inventory, January 1, 2016: 130
Aiello, Inc. had the following inventory in fiscal 2016. The company uses the LIFO method of accounting for inventory.
-Beginning Inventory, January 1, 2016: 130 units @ $15.00
-Purchase 200 units @ $18.00
-Purchase 50 units @ $13.50
-Purchase 110 units @ $15.75
-Ending Inventory, December 31, 2016: 120 units
The company's cost of goods sold for fiscal 2016 is:
A.$6,090.00
B.$1,800.00
C.$5,305.75
D.$6,157.50
E.None of the above
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