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What is the cost of goods sold for the july

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Reference no: EM133114820

Question - Trumpeting Trumpets has the following inventory data:

July 1 Beginning inventory 50 units at $120

July 5 Purchases 300 units at $112

July 14 Sale 250 units

July 21 Purchases 150 units at $115

July 30 Sale 240 units

Assuming that a perpetual inventory system is used, what is the cost of goods sold for the July 30 sale on a LIFO basis?

a. $27,330

b. $56,850

c. $27,650

d. $27,288

e. $28,000

Reference no: EM133114820

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