Taylor corporation has used a periodic inventory system

Reference no: EM131014304

1. Taylor Corporation has used a periodic inventory system and the LIFO cost method since its inception in 2006. The company began 2013 with the following inventory layers (listed in chronological order of acquisition):

18 units @ 10 180,000
23 units @ 115 345,000
beginning inventory 525,000

During 2013, 46,000 units were purchased for $20 per unit. Due to unexpected demand for the company's product, 2013 sales totaled 56,000 units at various prices, leaving 31,000 units in ending inventory.what is cost of goods sold for 2013?

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Reference no: EM131014304

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