Answer:
$830,000
Explanation:
For the month of January, Ultra Co.'s inventory details are:
Date Units Unit total Cost per unit Total cost
January 1 20,000 $260,000 $13
January 20 30,000 $710,000 $15
January 23 40,000 $1,390,000 $17
January 31 (50,000) ($16.60) ($830,000)
Ending inventory 40,000 $560,000
Applying the last-in, first-out (LIFO) method, COGS equals (40,000 units x $17) + (10,000 units x $15) = $680,000 + $150,000 = $830,000.