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Shayla's Design Uses a Periodic Inventory System Cost of Goods Sold Under the LIFO Method Is:
A)$1,219

Question 66

Multiple Choice

Shayla's Design uses a periodic inventory system.Shayla sold 33 artist kits during January.Other data for January includes:
 Jan, 1 Balance  12 kits @$3011 Purchased 20 kits @$3325 Purchased 26 kits @$38\begin{array}{|r|l|l|}\hline \text { Jan, } 1 & \text { Balance } & \text { 12 kits } @ \$ 30 \\\hline 11 & \text { Purchased } & 20 \text { kits } @ \$ 33 \\\hline 25 & \text { Purchased } & 26 \text { kits } @ \$ 38 \\\hline\end{array}
Cost of Goods Sold under the LIFO method is:


A) $1,219.
B) $1,055.
C) $950.
D) $789.

Correct Answer:

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