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The SOS corporation uses LIFO for its inventory accounting. It has an initial Inventory of 3670 widgets on 12/31/2012 with a unit cost of $2.5
The SOS corporation uses LIFO for its inventory accounting. It has an initial Inventory of 3670 widgets on 12/31/2012 with a unit cost of $2.5 (total cost of 9175.0). The company bought 710 widgets with unit cost of $2.5 on 2/3/13. The company bought 420 with a unit cost of $3.5 on 6/6/13. Finally, the company bought 300 widgets with a unit cost of $3.0 on 9/9/13. During 2013 , the company sold 1000 number of widgets. What is the Cost of Goods Sold for the year ending on 12/31/2013? $3,375 $1,520 $3070 $2100 $4,145
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