Rectangle Ltd Manufactures Cardboard Boxes for a Variety of Purposes

Multiple Choice

Rectangle Ltd manufactures cardboard boxes for a variety of purposes.The following information relates to the production of the extra large packing boxes used by removalists for the period ended 30 June 2012.
$$\begin{array} { | l | l | r | } \hline \text { Date } & \text { Manufactured } & \text { Units sold } \\\hline 1 \text { July (balance) } & 100 @ \$ 3.05 & \\\hline 15 \text { July 2011 } & 300 @ \$ 3.00 & \\\hline 19 \text { July 2011 } & & 250 \\\hline 20 \text { August 2011 } & 200 @ \$ 2.50 & \\\hline 21 \text { August 2011 } & & 190 \\\hline 15 \text { October } 2011 & 170 @ \$ 3.12 & \\\hline 30 \text { October 2011 } & & 200 \\\hline 15 \text { December 2011 } & 320 @ \$ 3.40 & \\\hline 15 \text { January 2012 } & & 175 \\\hline 13 \text { March 2012 } & 90 @ \$ 2.90 & \\\hline 30 \text { March 202 } & & 220 \\\hline 15 \text { June 2012 } & 80 @ \$ 3.20 & \\\hline 28 \text { June 2012 } & & 100 \\\hline\end{array}$$
The company uses a perpetual inventory system.The net realisable value per extra large cardboard box is $3.15 at the end of the period.What are the costs of goods sold and the value of ending inventory for Rectangle Ltd assuming the LIFO cost-flow assumption is used?

A) cost of sales: $3460.40; ending inventory: $380.00
B) cost of sales: $3453.90; ending inventory: $393.75
C) cost of sales: $3459.41; ending inventory: $380.99
D) cost of sales: $3453.90; ending inventory: $386.50