Answer:
Total value of sold goods= $357
Total value of inventory (after Nov 8)= $503
Explanation:
Giving the following information we need to calculate the value of inventory:
November: 5 units at a cost of $25 each.
On November 2:15 units at $27 each.
On November 6:11 units at $30 each.
On November 8: 12 units were sold for $60 each.
The compañy uses LIFO (last in first out) inventory
11 units at $30= $330
1 unit at $27= $27
Total value of sold goods= $357
Total value of inventory=5u*25+14*27= $503
