King Costume Uses a Periodic Inventory System

Multiple Choice

King Costume uses a periodic inventory system.The company started the month with 8 masks in its beginning inventory that cost $10 each.During the month,King Costume purchased 40 additional masks for $12 each.At the end of the month,King counted its inventory and found that 5 masks remained unsold.Using the LIFO method,its cost of goods sold for the month is:

A) $510.
B) $516.
C) $50.
D) $500.