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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 @ $28 - $140 November 2 Purchase 10 units @ $30 - $300 November 8 Sales 12 units @ $62 November 12 Purchase 6 units @ $33 = $198 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 $378 $244 $356 $334 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 $378 $244 5356 $334 5282
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