The Bisset Corporation uses Raw Material A in a manufacturing process. Information as to balances on hand, purchases, and requisitions of Raw Material A is given in the following table. Raw Material A 
If a perpetual inventory record of Raw Material A is maintained on a LIFO basis, the March 16 issue will consist of:
A) 20 units @ $1.40 and 120 units @ $1.55.
B) 100 units @ $1.40 and 40 units @ $1.55.
C) 140 units @ $1.55.
D) 100 units @ $1.55 and 40 units @ $1.40.
Correct Answer:
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