The following information was taken from the inventory records of Hari Ltd.:

What would be the cost of goods sold,assuming that the LIFO method is used in a perpetual inventory system?
A)$920
B)$930
C)$940
D)$950

Name: The following information was taken from the inventory records of Hari Ltd.: What would be the cost of goods sold,assuming that the LIFO method is used in a perpetual inventory system? A)$920 B)$930 C)$940 D)$950
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Question

The following information was taken from the inventory records of Hari Ltd.:

What would be the cost of goods sold,assuming that the LIFO method is used in a perpetual inventory system?
A)$920 
B)$930 
C)$940 
D)$950

Quizplus · Accepted Answer

C)(200 × 3.10)+ (100 × 3.20)= $940

The Following Information Was Taken from the Inventory Records of Hari