Allsop Company had no beginning inventory.The company purchases 300 units of inventory in January at $5 each,500 units at $4 each in August,and 200 units at $6 each in November.The company sells 150 units during the year.Allsop uses a periodic inventory system and the LIFO inventory costing method.What is the cost of goods sold?
A) $600
B) $934
C) $750
D) $900

Question

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The Answer of Allsop Company had no beginning inventory.The company purchases 300 units of inventory in January at $5 each,500 units at $4 each in August,and 200 units at $6 each in November.The company sells 150 units during the year.Allsop uses a periodic inventory system and the LIFO inventory costing method.What is the cost of goods sold?
A) $600
B) $934
C) $750
D) $900

Allsop Company Had No Beginning Inventory