Martin Sales Had a Beginning Inventory Balance of $120 Made

question 106

Multiple Choice

Martin Sales had a Beginning inventory balance of $120 made up of 10 units purchased for $12.00 per unit.Early in the month,they purchased 16 units at $10.00 per unit.Later that month,they sold 15 units.Martin uses a perpetual inventory system,and applies LIFO.
-How much is Cost of goods sold for the month?

• A) $180
• B) $170
• C) $150
• D) $110

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