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Madison Outlet has the following inventory transactions for the year: Numbers Unit Total Date Transaction of Units Cost cost Jan. 1 Beginning inventory 10 $200
Madison Outlet has the following inventory transactions for the year: Numbers Unit Total Date Transaction of Units Cost cost Jan. 1 Beginning inventory 10 $200 $2, 000 Mar. 14 Purchase 15 300 4, 500 $6, 500 Jan. 1 - Dec. 31 Total sales to customers 12 What amount would Madison report for cost of goods sold using LIFO?Multiple Choice $2,600. O $2,900. O $3,600. O $3,900
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