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A company's inventory records report the following in November of the current year: Date Activities Units Acquired at Cost Units Sold at Retail Nov. 1
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A company's inventory records report the following in November of the current year:
Date Activities Units Acquired at Cost Units Sold at Retail Nov. 1 Beginning inventory 5 units @ $20 = $ 100 Nov. 2 Purchase 10 units @ $22 = $ 220 Nov. 8 Sales 12 units @ $54 Nov. 12 Purchase 6 units @ $25 = $ 150 Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 12 units sold?
$282
$188
$260
$210
$254
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