Tatsoi Companys purchase and sales transactions for the month of May were as follows: ...
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Accounting
Tatsoi Companys purchase and sales transactions for the month of May were as follows:
Purchases Sales
May 1 (beg. balance) 2,000@ 300 May 2 1,200@ 600
7 6,000@ 320 14 4,800@ 600
22 2,000@ 330 28 2,000@ 650
Assuming that the company keeps perpetual inventory records, Tatsois cost of goods sold for the month of May on a LIFO basis is?
Select one alternative:
- 3,180,000
- 624,000
- 5,796,000
- 2,556,000
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