Question: Given the following data, calculate the COGS using the LIFO costing method. 50 units were sold Answer choices: 915 740 720 545 Date Item Unit

Given the following data, calculate the COGS using the LIFO costing method. 50 units were sold

Date Item Unit 1/1 Beginning inventory 30 units at $10 per unit

Answer choices:

915

740

720

545

Date Item Unit 1/1 Beginning inventory 30 units at $10 per unit 2/25 Purchase of inventory 15 units at $12 per unit 5/20 Purchase of inventory 25 units at $13 per unit 8/15 Purchase of inventory 20 units at $14 per unit 10/17 Purchase of inventory 25 units at $15 per unit 12/31 Ending inventory 65 units

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