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20. Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88HX are as follows: Assuming a perpetual inventory system and using the last-in,

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20.

Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item 88HX are as follows: Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on Oct. 27 and (b) the inventory on Oct. 31

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