Calculate the cost of goods available for sale using LIFO?

By: |Published on: Dec 1|Categories: Accounting JAMB| 0 comments

2/3 Purchases 900 books at #1,000 each
4/3 Purchases 590 books at # 950 each
15/3 Sales 300 books at #900 each

A. #801,000
B. #1,100,500
C. #1,160,500
D. #1,175,500

Correct Answer:

Option D – #1,175,500

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