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Metlocks has the following inventory data: Nov. 1 Inventory 27 units @ $5.40 each 8 Purchase 108 units @ $5.80 each 17 Purchase 54 units
Metlocks has the following inventory data:
Nov. 1 | Inventory | 27 units @ $5.40 each | ||
8 | Purchase | 108 units @ $5.80 each | ||
17 | Purchase | 54 units @ $5.65 each | ||
25 | Purchase | 81 units @ $5.90 each |
A physical count of merchandise inventory on November 30 reveals that there are 90 units on hand. Cost of goods sold under LIFO is
$529.
$1026.
$511.
$1044.
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