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Acme-Jones Corporation Uses a LIFO Perpetual Inventory System

Question 11

Multiple Choice

Acme-Jones Corporation uses a LIFO perpetual inventory system.
August 2,25 units were purchased at $12 per unit.
August 5,10 units were purchased at $13 per unit
August 15,12 units were sold at $25 per unit.
August 18,15 units were purchased at $14 per unit.
What was the amount of the Cost of Goods Sold?


A) $184.53
B) $163.00
C) $174.43
D) $154.00
E) $144.00

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