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The following information was available from the inventory records of Lily Co. for January: Units 30 Unit Cost Total Cost Balance at January 11 $10
The following information was available from the inventory records of Lily Co. for January: Units 30 Unit Cost Total Cost Balance at January 11 $10 $300 Purchases: January 6 40 14 January 26 50 808 560 18 900 Sales: January 7 January 31 (20) (30) If Lily maintains perpetual inventory records, what should be the total COGS during January 31, using the LIFO inventory method? $940 $920 O $820 O $840 4
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