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A company's inventory records report the following in November of the current year. Date Activities November 1 November 2 Beginning inventory Purchase Sales Purchase
A company's inventory records report the following in November of the current year. Date Activities November 1 November 2 Beginning inventory Purchase Sales Purchase November 8 November 12 Units Acquired at Cost 5 units @ $40 - $200 10 units @ $42 - $420 6 units $45 $270 Units Sold at Retail 12 units @ $74 Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 12 units sold? Multiple Choice O $328 O $454 $390 $500
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