Given the following information, determine the cost of goods sold at December 31 using the LIFO periodic inventory method. December 2: 8 units were purchased at $7.30 per unit. December 9: 13 units were purchased at $9.70 per unit. December 11: 15 units were sold at $35.30 per unit. December 15: 23 units were purchased at $10.45 per unit. December 22: 21 units were sold at $35.30 per unit.

Multiple Choice

• $347.60

• $366.45

• $389.85

• $424.85

• $341.25