Piper Pipes has the following inventory data: July 1 Beginning inventory 20 units at $120 5 Purchases 120 units at $112 14 Sale 80 units 21 Purchases 60 units at $115 30 Sale 56 units Assuming that a periodic inventory system is used, what is the cost of goods sold on a LIFO basis? a. $15,392.
b. $15,412.
c. $7,328.
d. $7,348.

COGS= $15,412

Explanation:

Giving the following information:

July 1 Beginning inventory 20 units at $120

July 5 Purchases 120 units at $112

July 14 Sale 80 units

July 21 Purchases 60 units at $115

July 30 Sale 56 units

First, we need to calculate the number of units sold:

Units sold= 136

To calculate the cost of goods sold using LIFO (last-in, first-out), we need to use the cost of the last units incorporated into inventory:

COGS= 60*115 + 76*112

COGS= $15,412

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.

i might look it up later.