A Company Purchased 100 Units for $30 Each on January

Multiple Choice

A company purchased 100 units for $30 each on January 31.It purchased 95 units for $40 each on February 28.It sold 150 units for $55 each from March 1 through December 31.If the company uses the last-in,first-out inventory costing method,what is the amount of Cost of Goods Sold on the income statement for the year ending December 31? (Assume that the company uses a perpetual inventory system. )

A) $5,450
B) $3,800
C) $3,000
D) $6,800