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What is the cost of goods sold on a lifo basis for july

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Reference no: EM132914122

Classic Floors has the following inventory data:

July 1

Beginning inventory 31.00 units at $6.105

Purchases 122.00 units at $6.7014

Sale 82.00 units21

Purchases 61.00 units at $7.3030

Sale 57.00 units

Problem 1: Assuming that a perpetual inventory system is used, what is the cost of goods sold on a LIFO basis for July?

Reference no: EM132914122

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