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A companys inventory records report the following in November of the current year: Date Activities Units Acquired at Cost Units Sold at RetailNovember 1 Beginning
A companys inventory records report the following in November of the current year: Date Activities Units Acquired at Cost Units Sold at RetailNovember 1 Beginning inventory 5 units @ $54 = $270 November 2 Purchase 10 units @ $56 = $560 November 8 Sales 12 units @ $88November 12 Purchase 6 units @ $59 = $354 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$594$668$690$426$516
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