Question
20 - 21. Use the following information: July 1 Beginning inventory = 20 units @ $50; July 5 Purchases = 60 units @ $52; July
20 - 21. Use the following information: July 1 Beginning inventory = 20 units @ $50; July 5 Purchases = 60 units @ $52; July 14 Sales 50 units @ $80; July 21 Purchases 30 units @ $56; July 31 Sales 28 units @ $85. What is gross profit on a perpetual LIFO basis?
A. $2,204
B. $2,212
C. $2,364
D. $4,016
E. $4,176
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The Essentials Of Finance And Accounting For Nonfinancial Managers
Authors: Edward Fields
3rd Edition
0814436943, 9780814436943
