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What is the cost of goods sold using the LIFO method

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Question - June Corp. sells one product and uses a perpetual inventory system. The beginning inventory consisted of 80 units that cost $20 per unit. During the current month, the company purchased 480 units at $21 each. Sales during the month totaled 360 units for $43 each. What is the cost of goods sold using the LIFO method?

a. $7,560.

b. $7,200.

c. $1,600.

d. $9,600.

Reference no: EM132567255

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