Calculate the ending inventory and cost of goods sold using the LIFO method.

https://phoenix.sophia.org/download/ckeditor%2Fpictures/215372/data/content/lifo6.png?

Using the LIFO method and the information in this image, what is the Cost of Units on Hand and Cost of Goods Sold during this period?

• a.)
• Units on Hand: $3,120
• Cost of Goods Sold: $14,480
• b.)
• Units on Hand: $3,840
• Cost of Goods Sold: $13,760
• c.)
• Units on Hand: $3,600
• Cost of Goods Sold: $14,000
• d.)
• Units on Hand: $3,520
• Cost of Goods Sold: $14,080