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Dmitry_Shevchenko [17]
3 years ago
15

TB MC Qu. 05-112 Eastview Company uses a perpetual... Eastview Company uses a perpetual LIFO inventory system, and has the follo

wing purchases and sales: January 1 150 units were purchased at $9 per unit. January 17 120 units were sold. January 20 160 units were purchased at $11 per unit. January 29 150 units were sold. What is the value of cost of goods sold
Business
1 answer:
icang [17]3 years ago
6 0

Answer:

$2,730

Explanation:

The computation of the cost of goods sold using the LIFO perpetual inventory system is shown below:

Since 120 units and 150 units are sold

So, the same is to be considered

Therefore the cost of goods sold is

= 120 units × $9 per unit + 150 units × $11 per unit

= $1,080 + $1,650

= $2,730

We take the 120 units at $9 per unit and 150 units at $11 per unit so that the cost of goods sold is recorded

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