Different LIFO inventory assumptions: Beginning inventory of 10 units @ $15 = $150 Purchases month #1 of 10 units @ $15 = $150 Purchases month #2 of 10 units @ $10 = $100 Cost of goods available for sale (subtotal) = $400 Less ending inventory of 10 units Equals cost of goods sold (also known as cost of sales) Under the LIFO inventory method, what is the cost of goods sold amount?

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