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Klump Co. uses a perpetual inventory system and had the following inventory transactions for the month of June. June1 On hand, 50 units at $18.00
Klump Co. uses a perpetual inventory system and had the following inventory transactions for the month of June.
June1 On hand, 50 units at $18.00 each $900.00
4 Purchased 115 units at $18.20 each $2,093.00
5 Sold 100 units
10 Purchased 75 units at $18.25 each $1,368.75
24 Sold 50 units
Total cost of goods available for sale $4,361.75
30 On hand, 90 units
Refer to the information provided for Klump Co. If the company uses the LIFO inventory costing method, cost of goods sold for the month of June is:
a.$2,720.00
b.$2,722.50
c.$2,738.00
d.$2,732.50
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