PROBLEM II 10 LIFO 11 13 Laylah Corporation manufactures mattresses and has provided the follovggg information: 15 Date Transaction 1-Jan Beginning Inventory 17 5-May Purchase 18 10-Aug Purchase 19 15-Oct Purchase Number of Units 100 200 300 200 Cost per Unit $800 $900 $1,000 $1,100 During the year, Laylah Corporation sold 750 mattresses. 23 Required: 24 1) Using the LIFO Cost Flow Assumption, please compute the Cost of Goods Sold. 26 (200x1,100)+(300x1,000)+(200x900)+(50x800)=$740,000-Cost of Goods Sold