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abiolataiwo2015

The cost of goods sold using LIFO is $99.

Cost of goods  sold using LIFO

Using this formula

Cost of goods sold=(March 3 Purchased units × March 3 Purchase price)+ [(March 3 Purchased units -March 9 sold units)×March 1 Beginning inventory cost]

Let plug in the formula

Cost of goods sold=(15 units×$3.90)+[(22 units-15 units)×$5.80]

Cost of goods sold=$58.5+(7 units×$5.80)

Cost of goods sold=$58.5+$40.6

Cost of goods sold=$99.1

Cost of goods sold=$99 (Approximately)

Therefore the cost of goods sold using LIFO is $99.

Learn more about cost of goods sold using LIFO here:https://brainly.com/question/27044447

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