Question

Inventory records for Dunbar Incorporated revealed the following:

Date Transaction Number
of Units Unit
Cost
Apr. 1 Beginning inventory 530 $2.37
Apr. 20 Purchase 310 2.50

Dunbar sold 640 units of inventory during the month. Cost of goods sold assuming LIFO would be

Answer 1

Cost of goods sold assuming LIFO would be $474

Step-by-step explanation:

Date Q U.cost Cost Sold Inventory Cost

april 1 530 2,37 1256,1 330 200 474

apri 20 310 2,5 775 310 0 0

640