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A company had inventory on November 1 of 5 units at a cost of $16...

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Accounting

A company had inventory on November 1 of 5 units at a cost of $16 each. On November 2, they purchased 13 units at $18 each. On November 6 they purchased 9 units at $21 each. On November 8, 11 units were sold for $51 each. Using the LIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale?

Multiple Choice

$272

$278

$315

$294

$283

Answer & Explanation Solved by verified expert
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