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The inventory data for an item for November are: Nov. 01 Inventory 21 units at $21 04 Sold 11 units 10 Purchased 31 units at
The inventory data for an item for November are:
Nov. 01 | Inventory | 21 units at $21 |
04 | Sold | 11 units |
10 | Purchased | 31 units at $22 |
17 | Sold | 22 units |
30 | Purchased | 24 units at $24 |
Using a perpetual system, what is the cost of the merchandise sold for November if the company uses LIFO?
$994
$925
$705
$715
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