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What is the cost of goods sold on a LIFO basis for July

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Reference no: EM133012070

Question - Classic Floors has the following inventory data:

July 1 Beginning inventory 31.00 units at $6.10

July 5 Purchases 122.00 units at $6.70

July 14 Sale 82.00 units

July 21 Purchases 61.00 units at $7.30

July 30 Sale 57.00 units

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

Reference no: EM133012070

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