=+Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of
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=+Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine
(a) the cost of merchandise sold on July 25 and
(b) the inventory on July 31.
Apr. 1 Inventory 30 units at $70 8 Sale 18 units 15 Purchase 25 units at $72 24 Sale 15 units
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