A Company Had Inventory of 5 Units at a Cost

question 150

Multiple Choice

A company had inventory of 5 units at a cost of $20 each on November 1. On November 2, they purchased 10 units at $22 each. On November 6, they purchased 6 units at $25 each. On November 8, they sold 18 units for $54 each. Using the LIFO perpetual inventory method, what was the cost of the 18 units sold?

• A)$395
• B)$410
• C)$450
• D)$510
• E)$520

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Definitions:

NHL Team

A professional ice hockey team that competes in the National Hockey League, North America's premier professional ice hockey league.

Average Attendance

The mean number of individuals present at a series of events or gatherings.

Games Won

The total number of victories achieved in a series of games or sporting events.

Random Sample

A selection from a larger population that is made in such a way that every individual has an equal chance of being included.