time a commitment is made to purchase inventory, the amount of the commitment should be booked in the inventory account. A True False 20 has beginning inventory of $2.000, representing 500 units On April 3, it purchases 20 units for $8.00. On September 14, it purchases 60 units for $9.00. On October 20, it sells 440 units at $15/unit Under the LIFO method, what is December 31? When calculating the answer, round cost per unit to two decimal points (e.g. $15.15) $940 B $710 C $560 $425