1. Question Content Area

   Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September.

   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 30 inventory balance is

   a.$700

   b.$800

   c.$750

   d.$650