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Use the following information to answer questions 18-24 Imperial Bathroom Specialists had the following activity in the month of March. Beginning inventory was 0. Bedrock
Use the following information to answer questions 18-24 Imperial Bathroom Specialists had the following activity in the month of March. Beginning inventory was 0. Bedrock uses a perpetual inventory system. Purchased 400 units @ $45 per unit on 3/5 Purchased 600 units @ $50 per unit on 3/10 Purchased 800 units @ $55 per unit on 3/15 -On 3/16 a sale of 800 units was made. -At the end of March they show 1,000 units in inventory.
Using LIFO what is the cost of goods sold for March?
d) $48,000 | ||
a) $44,000 | ||
b) $38,000 | ||
c) $54,000 |
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