Assume That Three Identical Units of Merchandise Were Purchased During

question 136

Multiple Choice

Assume that three identical units of merchandise were purchased during October, as follows:
$$\begin{array} { | l | c | l | c | c | } \hline & & & \text { Units } & \text { Cost } \\\hline \text { October } & 5 & \text { Purchase } & 1 & \$ 5 \\\hline & 12 & \text { Purchase } & 1 & 13 \\\hline & 28 & \text { Purchase } & \underline { 1 } & \underline { 15 } \\\hline \text { Total } & & & 3 & \$ 33 \\\hline\end{array}$$
-One unit is sold on October 31 for $28. Using the table provided, what is the cost of goods sold under the LIFO method?

• A) $28
• B) $18
• C) $15
• D) $13

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