Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method.
June, 1: Beginning inventory 15 units at $20 each
June, 15: Sale of 6 units at $50
June, 29: Purchased of 8 units at $25
The cost of goods sold is :
a. $200.
b. $220.
c. $120.
d. $275.
e. $300.
Answer: C
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.