Lowery Company Lowery Company uses a perpetual inventory system.The following information is available for the month of March:

-Refer to the information provided for Lowery Company.If the company uses the LIFO inventory costing method,how much is cost of goods sold for the month of March?

Question

Lowery Company Lowery Company uses a perpetual inventory system.The following information is available for the month of March:

-Refer to the information provided for Lowery Company.If the company uses the LIFO inventory costing method,how much is cost of goods sold for the month of March?

Quizplus · Accepted Answer

LIFO (Last-In, First-Out) assumes that the most recently purchased inventory is sold first. In this case, the cost of goods sold for March would be the cost of the inventory purchased in March, which is $208.

Lowery Company Lowery Company Uses a Perpetual Inventory System