Share,Inc.
The following data is available for one of the products sold by Share,Inc. ,which uses a perpetual inventory system.
May 1$\quad $ On hand, 10 units $@ \$ 2$ each
8$\quad $ Sold 6 units@$10 each
14$\quad $ Purchased 30 units $@ \$ 3$ each
23 $\quad $Sold 24 units $@ \$ 10$ each

-Refer to the data for Share,Inc.
If the LIFO method is used,how much is cost of goods sold for May?

Question

Share,Inc.
The following data is available for one of the products sold by Share,Inc. ,which uses a perpetual inventory system.
 May 1$\quad $ On hand, 10 units $@ \$ 2$ each
8$\quad $ Sold 6 units@$10 each
14$\quad $ Purchased 30 units $@ \$ 3$ each
23 $\quad $Sold 24 units $@ \$ 10$ each

-Refer to the data for Share,Inc.
If the LIFO method is used,how much is cost of goods sold for May?

Quizplus · Accepted Answer

The Answer of Share,Inc.
The following data is available for one of the products sold by Share,Inc. ,which uses a perpetual inventory system.
 May 1$\quad $ On hand, 10 units $@ \$ 2$ each
8$\quad $ Sold 6 units@$10 each
14$\quad $ Purchased 30 units $@ \$ 3$ each
23 $\quad $Sold 24 units $@ \$ 10$ each

-Refer to the data for Share,Inc.
If the LIFO method is used,how much is cost of goods sold for May?

Share,Inc the Following Data Is Available for One of the Products

Share,Inc
the Following Data Is Available for One of the Products