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A company has the following purchases and sales during July. Using the LIFO perpetual inventory method, what is the cost assigned to ending inventory at
A company has the following purchases and sales during July. Using the LIFO perpetual inventory method, what is the cost assigned to ending inventory at the end of July? Date July 1 July 8 July 11 July 17 July 22 Activities Beginning inventory Purchase Sales Purchase Sales Units Acquired at Cost 158 units @ $10 = $1,580 228 units @ $12= $2,736 108 units @ $13 = $1,404 Units Sold at Retail 148 units @ $20 98 units @ $21
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