Question
A companys inventory records report the following in November of the current year: Beginning November 1 6 units @ $15 Purchase November 2 12 units
A companys inventory records report the following in November of the current year:
| Beginning | November 1 | 6 units @ $15 |
| Purchase | November 2 | 12 units @ $17 |
| Purchase | November 6 | 8 units @ $19 |
On November 8, it sold 22 units for $45 each. Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 22 units sold?
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The TL 9000 Guide For Auditors
Authors: Mark Kempf
1st Edition
087389510X, 978-0873895101
