Question: Question Content Area The inventory data for an item for November are: Nov. 1 Inventory 25 units at $18 4 Sold 9 units 10 Purchased

  1. Question Content Area

    The inventory data for an item for November are:

    Nov. 1 Inventory 25 units at $18
    4 Sold 9 units
    10 Purchased 33 units at $22
    17 Sold 21 units
    30 Purchased 21 units at $22

    Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO?

    a.$912

    b.$560

    c.$1,078

    d.$624

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