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The inventory data for an item for November are: Nov. 1 Inventory 21 units at $23 4 Sold 11 units 10 Purchased 28 units at
The inventory data for an item for November are:
Nov. 1 | Inventory | 21 units at $23 | |
4 | Sold | 11 units | |
10 | Purchased | 28 units at $21 | |
17 | Sold | 16 units | |
30 | Purchased | 23 units at $20 |
Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO?
a.$922
b.$589
c.$819
d.$609
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