What is the amount allocated to the cost of goods sold, Financial Accounting

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What is the amount allocated to the cost of goods sold

Problem

Suppose that Carla Vista Trading Post has the following inventory data.

July 1 Inventory 36 units at $18 $648
July 7 Purchase 126 units at $19 2394
July 22 Purchase 18 units at $20 360
= $3402

The company uses a periodic inventory system. A physical count of merchandise in hand. Using the LIFO inventory method, the amount allocated to the cost of goods sold is?

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Financial Accounting: What is the amount allocated to the cost of goods sold

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Financial Accounting: What is the amount allocated to the cost of goods sold

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