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Stansfield Corporation uses the LIFO method. It ended 2 0 1 8 with 5 , 0 0 0 units of unsold inventory at $ 6

Stansfield Corporation uses the LIFO method. It ended 2018 with 5,000 units of unsold
inventory at $6 per unit. During 2019, it purchased 75,000 units of inventory at $8.00
each and sold 65,000 units for $20 each. In 2020, it purchased 70,000 units at $10 each
and sold 75,000 units at $22 each.
Its 2020 LIFO Cost of Goods Sold was closest to:
$740,000
$700,000
$650,000
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