accounting 290

A company just starting business made the following inventory transactions in August:

Purchase on August 1 300 units $1,560
Sale on August 8 200 units 3,400
Purchase on August 12 400 units 1,340
Sale on August 24 350 units 5,950

Using the LIFO inventory method, how much is cost of goods sold for August using a perpetual inventory system?

"Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!"

Hi there! Click one of our representatives below and we will get back to you as soon as possible.

Chat with us on WhatsApp