Question - Assume Shopping.com began May with 8 units of inventory that cost a total of $128. During May, Shopping purchased and sold goods as follows:
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Sep. 8
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Purchase
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24 units @$17
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|
14
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Sale
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20 units @$34
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|
22
|
Purchase
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16 units @$19
|
|
27
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Sale
|
24 units @$34
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Required - Suppose Shopping.com used the LIFO inventory costing method and the periodic inventory system. Using the information above, determine Shopping's cost of goods sold at the end of the month.