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Roki IncUses the Periodic Inventory System and Has the Following Data

Question 139

Multiple Choice

Roki Inc.uses the periodic inventory system and has the following data for the month of June:
 June 1 On hand, 50 units @$15.00 each $750.005 Purchased 115 units $15.10 each 1,736.5014 Purchased 75 units @$15.20 each 1,140.00 Total cost of goods avalable for sale $3,626.5030 On hand, 90 units \begin{array} { r l r } \text { June }1 & \text { On hand, 50 units } @ \$ 15.00 \text { each } & \$ 750.00 \\5 & \text { Purchased 115 units } \$ 15.10 \text { each } &1,736.50\\14 & \text { Purchased } 75 \text { units } @ \$ 15.20 \text { each } & 1,140.00 \\& \text { Total cost of goods avalable for sale } & \$ 3,626.50 \\30 & \text { On hand, 90 units } &\\&\end{array}

- If Roki uses the LIFO method,the cost of goods sold for June would be


A) $1,354.00.
B) $2,200.00.
C) $2,272.50.
D) $2,296.08.

Correct Answer:

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