Question - Go Griz Company has a perpetual inventory system and uses the LIFO method of inventory costing. Go Griz reported the following events during the month of June:
|
|
Number of Units Bought
|
|
|
Date
|
Event
|
Sold
|
Unit Price
|
|
June 1
|
Beginning Inv.
|
100
|
$10
|
|
|
3
|
Purchase
|
75
|
11
|
|
|
5
|
Sale
|
50
|
|
|
|
10
|
Purchase
|
140
|
12
|
|
|
16
|
Sale
|
65
|
|
|
|
21
|
Sale
|
90
|
|
|
|
25
|
Purchase
|
175
|
14
|
|
|
30
|
Sale
|
120
|
|
|
Required - The cost of goods sold for the June 21st sale is: