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What is the cost of goods sold if staff reports after close

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Reference no: EM133007367

For the month of September, your company made the following purchases:

100 pounds on 9/1 for $900

200 pounds on 9/20 for $2,400

Problem 1: Your Company buys roasted coffee beans for resale to retail customers. Your company started business on Sept 1 using aperiodic inventory method and LIFO (Last in First out) cost flow assumption, what is the cost of goods sold if your staff reports that on the 30th after close of business you had 50 pounds left?

A. $450

B. $2,700

C. $2,850

D. $3,300

Reference no: EM133007367

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