Question: Question Content Area The inventory data for an item for November are: Nov. 1 Inventory 22 units at $24 4 Sale 10 units 10 Purchase

  1. Question Content Area

    The inventory data for an item for November are:

    Nov. 1 Inventory 22 units at $24
    4 Sale 10 units
    10 Purchase 30 units at $25
    17 Sale 15 units
    30 Purchase 22 units at $26

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

    a.$615

    b.$1,247

    c.$603

    d.$903

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