A company's inventory records report the following in November of the current year: On November 8,it sold 18 units for $54 each.Using the LIFO perpetual inventory method,what amount of gross profit was earned from the 18 units sold?
A)$577
B)$452
C)$522
D)$462
E)$562

Question

A company's inventory records report the following in November of the current year:  On November 8,it sold 18 units for $54 each.Using the LIFO perpetual inventory method,what amount of gross profit was earned from the 18 units sold?
A)$577 
B)$452 
C)$522 
D)$462 
E)$562

Quizplus · Accepted Answer

The Answer of A company's inventory records report the following in November of the current year:  On November 8,it sold 18 units for $54 each.Using the LIFO perpetual inventory method,what amount of gross profit was earned from the 18 units sold?
A)$577 
B)$452 
C)$522 
D)$462 
E)$562

A Company's Inventory Records Report the Following in November of the Current