a-retailer-buys-80-units-at-10-each-and-then-40-units-at-12-each-if-90-units-are

Question

A retailer buys 80 units at $$10 each and then 40 units at 12 $$each. If 90 units are sold using LIFO in a perpetual system, what is the cost assigned to cost of goods sold?

Accepted Answer

$980

Answer

$920

Answer

$900

Answer

$1,080

A retailer buys 80 units at \$10 each and then 40 units at \$12 each. If 90 units are sold using LIFO in a perpetual system, what is the cost assigned to cost of goods sold?