A firm purchased 25 units of materials with a unit price of $2.00 on May 5. On May 15, the firm purchased 25 units with a unit price of $2.10. If the firm uses the LIFO method of inventory pricing, the total cost of 30 units issued on May 20 would be
A) $62.50.
B) $60.00.
C) $63.00.
D) $60.50. (25 x 2.10) + (5 x 2) = 62.50.
Correct Answer:
Verified
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