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McDonald's Corporation uses the LIFO method for inventory valuation. The following inventory transactions occurred during the month: Beginning Inventory: 100 units at $10 per unit

McDonald's Corporation uses the LIFO method for inventory valuation. The following inventory transactions occurred during the month:

  • Beginning Inventory: 100 units at $10 per unit
  • Purchases:
    • June 5: 200 units at $12 per unit
    • June 15: 150 units at $15 per unit
  • Sales:
    • June 8: 150 units
    • June 20: 200 units

Calculate the cost of goods sold for the month using the LIFO method for McDonald's Corporation.



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