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 Inventory150 units @ $10.00 5Purchase220 units @ $12.00 10Sales 140 units @ $20.0015Purchase100 units @ $13.00 24Sales 90 units @ $21.00
A. $2,980
B. $2,850
C. $2,860
D. $2,590
E. $2,460
Answer: B
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a. Unconditional MFN trade. b. Conditional. c. Normal Trade Relations. d. Conditional National Treatment.
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Answer the following statement true (T) or false (F)