LIFO inventory assumptions: Beginning inventory of 10 units @$5 = $50 Purchases month #1 of 10 units @$10 = $100 Purchases month #2 of 10 units @$15 = $150 Cost of goods available for sale (subtotal) = $300 Less ending inventory of 10 units Equals cost of goods sold (also known as cost of sales) Required: Under the LIFO inventory method, what is the ending inventory amount?

Question 8 options:

$300

$150

$100

$50