Eastview Company uses a periodic LIFO inventory system, and has the following purchases and sales: $$\begin{array} { | l | l | }
\hline \text { January 1 } & 150 \text { units were purchased at } \$ 9 \text { per unit. } \
\hline \text { January } 17 & 120 \text { units were sold. } \
\hline \text { January 20 } & 160 \text { units were purchased at } \$ 11 \text { per unit. } \
\hline \text { January 29 } & 150 \text { units were sold. } \
\hline
\end{array}$$ What is the value of cost of goods sold?
A)$440.
B)$2,750.
C)$2,730.
D)$2,670.
E)$380.

Question

Eastview Company uses a periodic LIFO inventory system, and has the following purchases and sales: $$\begin{array} { | l | l | } 
\hline \text { January 1 } & 150 \text { units were purchased at } \$ 9 \text { per unit. } \
\hline \text { January } 17 & 120 \text { units were sold. } \
\hline \text { January 20 } & 160 \text { units were purchased at } \$ 11 \text { per unit. } \
\hline \text { January 29 } & 150 \text { units were sold. } \
\hline
\end{array}$$ What is the value of cost of goods sold?
A)$440.
B)$2,750.
C)$2,730.
D)$2,670.
E)$380.

Quizplus · Accepted Answer

The Answer of Eastview Company uses a periodic LIFO inventory system, and has the following purchases and sales: $$\begin{array} { | l | l | } 
\hline \text { January 1 } & 150 \text { units were purchased at } \$ 9 \text { per unit. } \
\hline \text { January } 17 & 120 \text { units were sold. } \
\hline \text { January 20 } & 160 \text { units were purchased at } \$ 11 \text { per unit. } \
\hline \text { January 29 } & 150 \text { units were sold. } \
\hline
\end{array}$$ What is the value of cost of goods sold?
A)$440.
B)$2,750.
C)$2,730.
D)$2,670.
E)$380.

Eastview Company Uses a Periodic LIFO Inventory System, and Has