Homework Answers
Answer : $ 50
Last in, first out (LIFO) is a method used to account for inventory that records the most recently produced items as sold first.
So here 5 units sold Inventory using purchase day 4 cost i.e $ 10
I.e 5*10 = $ 50
Therfor cost of goods sold for this 5 units sold is $ 50
I
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