A company's inventory records report the following in November of the current year: BeginningNovember 15 units @ $20PurchaseNovember 210 units @ $22PurchaseNovember 126 units @ $25On November 8, it sold 12 units for $54 each. Using the LIFO perpetual inventory method, what amount of gross profit was earned from the 12 units sold?
A. $388
B. $260
C. $577
D. $438
E. $366
Answer: A
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