Question: Elmo Trisqui and company began 2024 with an inventory of 10,000 units at a cost of $7.00 per unit. During 2024, 50,000 units were purchased

Elmo Trisqui and company began 2024 with an inventory of 10,000 units at a cost of $7.00 per unit. During 2024, 50,000 units were purchased for $8.50 each. Sales for the year totaled 54,000 units, leaving 6,000 units available by the end of 2024. Elmo uses a periodic inventory system and the LIFO inventory cot method. Calculatethe cost of goods sold for 2024.

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