Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September. Use this information to answer the questions that follow.
-The inventory data for an item for November are: Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO?
A)$610
B)$600
C)$590
D)$580

Question

Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September. Use this information to answer the questions that follow. 
-The inventory data for an item for November are:  Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO?
A)$610 
B)$600 
C)$590 
D)$580

Quizplus · Accepted Answer

The Answer of Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September. Use this information to answer the questions that follow. 
-The inventory data for an item for November are:  Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO?
A)$610 
B)$600 
C)$590 
D)$580