Question
35j The inventory data for an item for November are: Nov. 1 Inventory 20 units at $23 4 Sale 10 units 10 Purchase 35 units
35j The inventory data for an item for November are:
| Nov. 1 | Inventory | 20 units at $23 |
| 4 | Sale | 10 units |
| 10 | Purchase | 35 units at $25 |
| 17 | Sale | 19 units |
| 30 | Purchase | 24 units at $27 |
Using a perpetual system, what is the cost of merchandise sold for November if the company uses LIFO?
a.$705
b.$935
c.$1,298
d.$685
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College Accounting Chapters 1-30
Authors: John Price, M. David Haddock, Michael Farina
14th edition
978-1259284861, 1259284867, 77862392, 978-0077862398
