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A company's inventory records report the following in November of the current year: Date Activities November 1 Beginning inventory November 2 Purchase November 8
A company's inventory records report the following in November of the current year: Date Activities November 1 Beginning inventory November 2 Purchase November 8 Sales Purchase Units Acquired at Cost 5 units @ $20 = $100 10 units @ $22 = $220 6 units @ $25 = $150 Units Sold at Retail November 12. 12 units @ $54 Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 12 units sold?
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