intext:"On December 31, there were 26 units remaining in ending inventory. Using the periodic LIFO inventory costing method, what is the value of cost of goods sold"

Respuesta :

Answer:

$5,400

Explanation:

Calculation for the value of cost of goods sold

Calculation of Cost of goods sold

Units of sales × Purchase = Cost of goods sold

6 units ×$ 120.00 = $720

5 units ×$ 125.00 = $ 625

9 units×$ 130.00 =$ 1,170

11 units ×$ 135.00 =$ 1,485

10 units × $ 140.00 =$1,400

TOTAL $5,400

Therefore the value of cost of goods sold will be $5,400

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