Accounting Practice Problems Periodic Inventory - FIFO, LIFO, and Average Cost Practice Problems Solution: Consider the following: There were 105 units avai...

# Solution: Consider the following: There were 105 units available at a total cost of $1,225. Eighty-three units were sold. Use the LIFO method of inventory costing and determine the cost of goods sold. a.$993 b. $968 c.$962 d. $941 ###### Problem Consider the following: There were 105 units available at a total cost of$1,225. Eighty-three units were sold. Use the LIFO method of inventory costing and determine the cost of goods sold.

a. $993 b.$968

c. $962 d.$941