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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 November 1
A company's inventory records report the following in November of the current year: Date Activities Units Acquired at Cost Units Sold at Retail November 1 Beginning inventory 5 units @ $20 = $100 November 2 Purchase 10 units @ $22 = $220 November 8 Sales 12 units @ $54 November 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? Multiple Choice $254 $260 $282 $188 $210
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