The Ivanhoe Shop shows the following data related to an item of inventory Inventory, January 1 310 units $6 00 Purchase, January 9 870 units $6 50 Purchase, January 19 210 units $7 00 Inventory, January 31 310 units What value should be assigned to cost of goods sold using LIFO

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The Ivanhoe Shop shows the following data related to an item of inventory: Inventory, January 1 310 units @ $6.00 Purchase, January 9 870 units

The Ivanhoe Shop shows the following data related to an item of inventory:

Inventory, January 1	310 units	@ $6.00
Purchase, January 9	870 units	@ $6.50
Purchase, January 19	210 units	@ $7.00
Inventory, January 31	310 units

What value should be assigned to cost of goods sold using LIFO?

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