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On 1 March 2019, Lambert Ltd had 40 units in inventory costing 28 each. During the month, the following transactions occurred: Date Buy/sell Units Price
On 1 March 2019, Lambert Ltd had 40 units in inventory costing 28 each. During the month, the following transactions occurred: Date Buy/sell Units Price 3.3.19 Buy 70 28 10.3.19 Sell 90 60 15.3.19 Buy 60 32 19.3.19 Buy 65 29 26.3.19 Sell 100 55 What is the (i) value of inventory at 31 March 2019 and (ii) the cost of goods sold (COGS) for the month of March 2019 using the LIFO basis? Select one What is the (i) value of inventory at 31 March 2019 and (ii) the cost of goods sold (COGS) for the month of March 2019 using the LIFO basis? Select one: a. COGS Inventory 5,630 1,420 b. COGS Inventory 5,490 1,320 C. COGS Inventory 5,430 1,410 d. Inventory COGS 1,360 5,525
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