Question 12 Use this information to answer the questions that follow. Addison, Inc. uses a perpetual inventory system. Information regarding one inventory item for the month of September follows: Sep. 1 Inventory 20 units at $20 4 Sold 10 Purchased 30 units at $25 17 Sold 30 Purchased 10 units at $30 O $400 10 units If Addison uses LIFO, the September 17 cost of goods sold would be O $450 O $500 20 units O $600

Use this information to answer the questions that follow. Addison, Inc, uses a perpetual inventory system. Information regarding one inventory item for the month of September follows: Sep. 1 Inventory 20 units at $20 4 Sold 10 units 10 Purchased 30 units at $25 17 Sold 20 units 30 Purchased 10 units at $30 If Addison uses LIFO, the September 17 cost of goods sold would be $400 $450 $500 5600