Answer:
Cost of goods sold = $38,530
Explanation:
Given:
Total units sold = 200 units (14 July) + 140 units (30 July)
Total units sold = 340 units
Computation of Cost of goods sold Under (Last-in-First-out) method:
Cost of goods sold = First 150 units at $115 + Remaining units cost
Cost of goods sold = (150 units × $115) + (340 units - 150)($112)
Cost of goods sold = ($17,250) + (190)($112)
Cost of goods sold = ($17,250) + ($21,280)
Cost of goods sold = $38,530
