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Classic Floors has the following inventory data: July 1 Beginning inventory 34.00 units at $6.80 5 Purchases 137.00 units at $7.50 14 Sale 91.00 units
Classic Floors has the following inventory data:
| July 1 | Beginning inventory | 34.00 units at $6.80 | ||
| 5 | Purchases | 137.00 units at $7.50 | ||
| 14 | Sale | 91.00 units | ||
| 21 | Purchases | 68.00 units at $8.20 | ||
| 30 | Sale | 64.00 units |
Assuming that a perpetual inventory system is used, what is the cost of goods sold on a LIFO basis for July?
|
| $1207.30 |
|
| $897.60 |
|
| $609.00 |
|
| $1816.30 |
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