EXPLAIN

5.Transactions for the month of June were: Purchases Sales June 1 (balance) 3170 @ $3.30 June 2 2430 3 8840 @ 3.20 6 6420 7 4840 @ 3.40 9 3980 Assuming that perpetual inventory records are kept in dollars, the cost of goods sold on June 9 on a LIFO basis is A.$13,532 B.$12,900 C.$42,095 D.$41,537 E.$13,110 Date Purchase Cost of Goods Sold Inventory (Balance) X Cost Quantity X Cost = Total Cost Quantity X Cost Total Cost Quantity Total Cost