Strods Company reported the following purchases and sales for its only product. Strods uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using LIFO.DateActivitiesUnits Acquired at CostUnits Sold at RetailMay 1Beginning Inventory250 units @ $10 5Purchase270 units @ $12 10Sales 190 units @ $2015Purchase150 units @ $13 24Sales 140 units @ $21
A. $3590
B. $4230
C. $3860
D. $4100
E. $3460
Answer: D
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