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Assume Overland.com began October with 14 units of inventory that cost a total of $210. During October, Overland.com purchased and sold goods as follows: Oct.
Assume Overland.com began October with 14 units of inventory that cost a total of $210. During October, Overland.com purchased and sold goods as follows:
Oct. 8 Purchase 42 units @ $16
14 Sale 35 units @ $32
22 Purchase 28 units @ $18
27 Sale 42 units @ $32
Suppose Overland.com used the LIFO inventory costing method and the periodic inventory system. Using the information above, determine Overland.com's cost of goods sold at the end of the month.
A. $126
B. $1260
C. $105
D. $1281
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