Respuesta :
Answer: Option (B) is correct.
Step-by-step explanation:
Given that,
Total laptop sold = 750
Since LIFO method is used, the sales shall be out of the inventories latest.
Therefore, 750 laptops shall be sold out of the following purchases:
October:
Total = Number of units × cost per unit
= 200 × $1,100
= $220,000
August:
Total = Number of units × cost per unit
= 300 × $1000
= $300,000
May:
Total = Number of units × cost per unit
= 200 × $900
= $180,000
January:
Total = Number of units × cost per unit
= 50 × $800
= $40,000
Cost of goods sold = October + August + May + January
= $220,000 + $300,000 + $180,000 + $40,000
= $740,000
The cost of goods sold is $740,000.
What is the cost of goods sold?
LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold. The cost of goods sold would consist of the earliest purchased inventory.
Cost of good sold = ( 50 x $800) + (200 x $900) + (300 x $1000) + (200 x 1100) = $740,000.
To learn more about LIFO, please check: https://brainly.com/question/13779572
