Use the following information to answer:
Dracopoli's Sporting Goods, which uses a perpetual inventory system, had the following inventory records for the month of January.

-Assuming the last in first out (LIFO) method is used, what is Dracopoli's Cost of Goods Sold for the month of January?

Question

Use the following information to answer:
Dracopoli's Sporting Goods, which uses a perpetual inventory system, had the following inventory records for the month of January.
 
-Assuming the last in first out (LIFO) method is used, what is Dracopoli's Cost of Goods Sold for the month of January?

Quizplus · Accepted Answer

(50 x $300) + (40 x $309) + (10 x $300) + (40 x $315) = $42,960

Use the Following Information to Answer