Strods Company reported the following purchases and sales for its only product. Strods uses a periodic inventory system. Determine the cost assigned to cost of goods sold using LIFO.DateActivitiesUnits Acquired at CostUnits Sold at RetailMay 1Beginning Inventory340 units @ $19 5Purchase315 units @ $21 10Sales 235 units @ $2915Purchase195 units @ $22 24Sales 185 units @ $30
A. $8360
B. $9005
C. $8350
D. $8140
E. $9015
Answer: E
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