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The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Ramos, Inc. for an operating period Unit CostTotal

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The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Ramos, Inc. for an operating period Unit CostTotal Cost $2.304 Units Units Sold $72 Beginning Inventory Sale No.1 Purchase No. 1 10 28 80 2.240 Purchase No. 2 76 1.520 Totals Assuming Ramos, Inc. uses the LIFO perpetual inventory procedures, sale no. 2 is recorded as an entry to Cost of Goods Sold for: Select one G/tIA $2.480 B.$2.528 C$2.304 Ds2.384 Next page

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