Starlight Company Has Inventory of 8 Units at a Cost

question 148

Multiple Choice

Starlight Company has inventory of 8 units at a cost of $200 each on October 1. On October 2, it purchased 20 units at $205 each. 11 units are sold on October 4.
-Using the LIFO perpetual inventory method, what amount will be reported in cost of goods sold for the 11 units that were sold?

• A) $2,255.
• B) $2,239.
• C) $2,200.
• D) $2,215.
• E) $2,228.

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