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The inventory data for an item for November are: Using a perpetual system, what is the cost of goods sold for November if the company uses LIFO? a. $727 b. 5688 c. $593 d. $598 The following lots of Commodity Z were available for sale during the year. The firm uses the periodic inventory system, and there are 22 units of the commodity on hand at the end of the year. What is the ending inventory balance of Commodity Z using FIFO? a. 53,742 b. 51,144 c. $1.288 d. $3,720