ABC Corporation has the following inventory information for March, 2019: ...
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Accounting
ABC Corporation has the following inventory information for March, 2019:
Units
$ Unit cost
$ Total Cost
Beg. Inv.
2,400
10.50
25,200
Purchase 1
3,800
10.75
40,850
Purchase 2
1,900
11.00
20,900
Purchase 3
2,300
11.25
25,875
Total
10,400
112,825
On March 31, ABC has 2,500 units in ending inventory. Using the periodic LIFO (last-in, first-out) method, what is Cost of goods sold (COGS) for March ?
a.
$84,700
b.
$86,575
c.
$84,750
d.
$86,550
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