11. A companys inventory records report the following in November of the current year: Beginning November 1
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Question:
11.
A companys inventory records report the following in November of the current year:
Beginning | November 1 | 6 units @ $6 |
Purchase | November 2 | 12 units @ $8 |
Purchase | November 6 | 8 units @ $10 |
On November 8, it sold 22 units for $36 each. Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 22 units sold? |
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