Use the Following Information to Answer Questions
ABC Company $$\begin{array} { c c } \text { Unit } & \text { Cost per Unit } \\1 & \$ 10 \\2 & \$ 12 \\3 & \$ 15 \\4 & \$ 18 \\5 & \$ 13\end{array}$$

question 8

Multiple Choice

Use the following information to answer questions
ABC Company purchases five products for sale in the order and at the costs shown: $$\begin{array} { c c } \text { Unit } & \text { Cost per Unit } \\1 & \$ 10 \\2 & \$ 12 \\3 & \$ 15 \\4 & \$ 18 \\5 & \$ 13\end{array}$$
-Assume ABC sells two items and uses the LIFO method of inventory valuation.What amount would appear for cost of goods sold on the income statement?

• A)$37
• B)$41
• C)$22
• D)$31

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