Financial Reporting and Analysis Q230

0. Calvin Clients Limited reports its inventory and cost of goods sold using the LIFO valuation method. The following table shows the details of purchases and sales for the year 2010. Assume that in each month, the purchases happen at the start of the month and sales happen at the end of the month.
Month   Units purchased Units sold Cost per unit Price per unit
January    50 0 100 150
March   100 25 110 150
May 0 60 n/a 175
June 125 0 125 175
July 120 0 150 180
October   0 80 n/a 200
December    0 60 n/a 225

What is the cost of goods sold for the company?

Answer
Comment
Array

Option : B
Explanation :

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