Mason Company purchased items of inventory as follows. Dec. 2 50 units @ $20 Dec. 12 12 units @ $21 Mason sold 15 units on December 20. Determine the cost of goods sold for the month under the LIFO inventory method.

$312

Explanation:

The computation of the cost of goods sold under the LIFO method is shown below:

Since the 15 units are sold, so the cost of goods sold is

= December 20 units × price on that date + Remaining units × price on that date

= 12 units × $21 + 3 units × $20

= $252 + $60

= $312

The remaining units is

= 15 units - 12 units

= 3 units

Hence, the cost of goods sold under the LIFO inventory method is $312

in terms of experimental research, mcdonald’s charging different prices in the two cities relates to

there's 11 people for the 1st position. then, no matter who gets it, there's only 10 left for the second, and then 9 left for the third. 11 x 10 x 9 = 990.   the answer is there are 990 different ways the positions can be filled by these applicants