Business, 17.04.2020 19:55 naenae2cold12021

The inventory data for an item for November are:

1. Nov. 1: Inventory 20 units at $19
2. Nov. 10: Purchased 30 units at $20
3. Nov. 4: Sold 10 units
4. Nov. 17: Sold 20 units
5. Nov. 30: Purchased 10 units at $21
Using a perpetual system, what is the cost of the merchandise sold for November if the company uses LIFO?

a. $610
b. $600
c. $590
d. $580

Answers: 2

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The inventory data for an item for November are:

1. Nov. 1: Inventory 20 units at $19