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7a During 2020, Quarantine Nation Corp sells 280 units of inventory for $40/unit and collects cash immediatelyl. Assuming Quarantine Nation uses the LIFO method, the
7a During 2020, Quarantine Nation Corp sells 280 units of inventory for $40/unit and collects cash immediatelyl. Assuming Quarantine Nation uses the LIFO method, the journal entry for the sale will include: b d a debit to cost of goods sold of 2,880 a debit to cost of goods sold of 3,900 a debit to cost of goods sold of 11.200 a debit to inventory of 2,880 a debit to inventory of 3,900 a debit to inventory of 11,200 e f
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