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What would the cost of sales as reported on income statement

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Reference no: EM132663974

Question - Given

Beginning inventory 280 units at $72

10 March Sold 70 units

10 June Purchased 150 units at $76

30 October Sold 150 units

Required - What would the cost of sales be as reported on the income statement for the year ending 31 December 2016 if the perpetual, last-in, first-out costing method is used?

A. $16,440

B. $5040

C. $15,840

D. $11,400

Reference no: EM132663974

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