A company had 22 units of inventory at a cost of $26 each on March 1. On March 2, the company purchased 27 units at $27 each. On March 6, the company purchased 23 units at $28 each. On March 8, the company sold 52 units for $71 each. Given this information, determine the cost of the 52 units sold using the LIFO periodic inventory method.
A)$1,997
B)$1,456
C)$1,436
D)$1,425
E)$1,385

Question

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The Answer of A company had 22 units of inventory at a cost of $26 each on March 1. On March 2, the company purchased 27 units at $27 each. On March 6, the company purchased 23 units at $28 each. On March 8, the company sold 52 units for $71 each. Given this information, determine the cost of the 52 units sold using the LIFO periodic inventory method.
A)$1,997
B)$1,456
C)$1,436
D)$1,425
E)$1,385

A Company Had 22 Units of Inventory at a Cost