Question: Question Content Area The inventory data for an item for November are: Nov. 1 Inventory 24 units at $25 4 Sale 11 units 10 Purchase

Question Content Area

The inventory data for an item for November are:

Nov. 1 Inventory 24 units at $25
4 Sale 11 units
10 Purchase 33 units at $27
17 Sale 17 units
30 Purchase 22 units at $28

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

a. $1,059

b. $734

c. $1,399

d. $708

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