Question: The inventory data for an item for November are: Date Line Item Description Units and Cost Nov. 1 Inventory 16 units at $21 4 Sold

The inventory data for an item for November are: Date Line

The inventory data for an item for November are:

Date Line Item Description Units and Cost

Nov. 1 Inventory 16 units at $21

4 Sold 8 units

10 Purchased 25 units at $20

17 Sold 16 units

30 Purchased 24 units at $21

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

a.$488

b.$496

c.$656

d.$844

The inventory data for an item for November are: Using a perpetual system, what is the cost of goods sold for November if the company uses LIFO? a. $488 b. $496 c. $656 d. $844

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