Beginning Inventory and Purchases
Purchased Units Unit Cost Total Cost
Beginning Inventory 100 $50 $5,000
1st Purchase 100 $52 $5,200
2nd Purchase 100 $60 $6,000
3rd Purchase 100 $64 $6,400
Units Available For Sale 400 $22,600
Ending Inventory
Units on Hand 160 Cost of Units on Hand $
Units Sold 240 Cost of Goods Sold $

Using the LIFO method and the information in this table, what is the Cost of Units on Hand and Cost of Goods Sold during this period?


a.)
Units on Hand: $8,120
Cost of Goods Sold: $14,480


b.)
Units on Hand: $12,600
Cost of Goods Sold: $10,000


c.)
Units on Hand: $10,200
Cost of Goods Sold: $12,400


d.)
Units on Hand: $12,400
Cost of Goods Sold: $10,200