Acme-Jones Corporation Uses a LIFO Perpetual Inventory System

question 11

Multiple Choice

Acme-Jones Corporation uses a LIFO perpetual inventory system.
August 2,25 units were purchased at $12 per unit.
August 5,10 units were purchased at $13 per unit
August 15,12 units were sold at $25 per unit.
August 18,15 units were purchased at $14 per unit.
What was the amount of the Cost of Goods Sold?

• A)$184.53
• B)$163.00
• C)$174.43
• D)$154.00
• E)$144.00

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