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A company had the following purchases and sales during the month of November: Date Activities Units Acquired at Cost Units Sold at Retail November 1
A company had the following purchases and sales during the month of November: Date Activities Units Acquired at Cost Units Sold at Retail November 1 Beginning inventory 5 units @ $34 = $170 November 2 Purchase 10 units @ $36 = $360 November 6 Purchase 6 units @ $39 = $234 November 8 Sales 8 units @ $76 Using the LIFO perpetual inventory method, what was the value of the inventory on November 8 after the sale?
Multiple Choice
$462
$514
$478
$470
$458
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