Business, 10.04.2020 20:51 williamrobinson93

Lamp Inc. sells lamps.

During March 2018, its inventory records for the category "Nightstand Lamps" were as follows:

Quantity Price per Lamp Total

Beginning Inventory 2,000 lamps $26 = $52,000
March 7 Purchase 1,800 lamps $29 = $52,200
March 11 Sale 2,500 lamps N/A
March 17 Purchase 900 lamps $31 = $27,900
March 23 Sale 800 lamps N/A
March 28 Purchase 700 lamps $32 = $22,400

Using the information above, periodic LIFO cost of goods sold is:

a. $91,300
b. $92,800
c. $89,700
d. $86,400

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Lamp Inc. sells lamps.

During March 2018, its inventory records for the category "Night...

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