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The inventory data for an item for November are: Nov. 1 Inventory 25 units at $22 4 Sold 9 units 10 Purchased 26 units at
The inventory data for an item for November are:
Nov. 1 | Inventory | 25 units at $22 | |
4 | Sold | 9 units | |
10 | Purchased | 26 units at $19 | |
17 | Sold | 21 units | |
30 | Purchased | 21 units at $25 |
Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO?
a. $645
b. $597
c. $924
d. $949
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