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The following units of a particular item were purchased and sold during the period: Beginning inventory 40 units at $20 First purchase 50 units at
The following units of a particular item were purchased and sold during the period:
Beginning inventory 40 units at $20
First purchase 50 units at $21
Second purchase 50 units at $22
First sale 110 units
Third purchase 50 units at $23
Second sale 45 units
What is the cost of the 35 units on hand at the end of the period as determined under the perpetual inventory system by the LIFO costing method.
A. . $715
B. . $705
C. . $700
D. . $805
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