A Company's Inventory Records Report the Following in November of the Current

question 228

Multiple Choice

A company's inventory records report the following in November of the current year: $$\begin{array} { | l | l | l | } \hline \text { Beginging } & \text { November 1 } & 5 \text { units @ \$20 } \\\hline \text { Purchase } & \text { November 2 } & 10 \text { units @ \$22 } \\\hline \text { Purchase } & \text { November 12 } & 6 \text { units @ \$25 } \\\hline\end{array}$$ On November 8, it sold 12 units for $54 each.
-Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 12 units sold?

• A) $210
• B) $188
• C) $282
• D) $260
• E) $254