Biology Forums - Study Force

MCE Incorporated uses the LIFO method to calculate ending inventory. Assuming 200 units are not sold, the cost of goods sold is:

January 1 Inventory	150 units at $15	$2,250
March 3 Purchase	300 units at $12	$3,600
July 1 Purchase	250 units at $14	$3,500
November 10 Purchase	400 units at $10	$4,000

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$10,500

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$7,500

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$11,350

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$8,500

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None of the answer choices are correct.

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