Question: When using the LIFO inventory valuation method, how do you compute the amount of COST OF GOODS SOLD? Multiply the number of units sold during

When using the LIFO inventory valuation method, how do you compute the amount of COST OF GOODS SOLD? Multiply the number of units sold during the year by the average cost per unit of the inventory items purchased near the end of the year Multiply the number of units sold during the year by the average cost per unit of the inventory items expected to be purchased near the beginning of next year Multiply the number of units sold during the year by the average cost per unit of the inventory items purchased near the beginning of the year Multiply the number of units sold during the year by the average cost per unit of all of the inventory items available for sale during the year

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