Question
A company had inventory of 21 units at a cost of $25 each on November 1. On November 2, they purchased 26 units at $26
| A company had inventory of 21 units at a cost of $25 each on November 1. On November 2, they purchased 26 units at $26 each. On November 6, they purchased 22 units at $27 each. On November 8, they sold 50 units for $70 each. Using the LIFO perpetual inventory method, what was the cost of the 50 units sold? |
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Accounting In Business
Authors: R. J. Bull
5th Edition
0408014865, 978-0408014861
