USA LIFO inventory

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Sep 13, 2015
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Hello,

I am trying to calculate the units sold under LIFO method

Here is the list:

  • Ending inventory December 31 Year 5: 1180 @ 172.50
  • January purchases: 800 units @ $174
  • February purchases: 1050 @ 174
  • April purchases: 1250 @ 175.80
  • July purchases: 1200 @ 176.25
  • August purchases: 176.25
  • September purchases: 800 @ 177.50
  • October: 650 @ 179
  • December: 250 units @ 180

The problem says 2550 units remained in inventory
My guess is 5730 units sold for $1,000,763

Am I correct?

Thank you for the help
 

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