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A company's inventory records report the following in November of the current year: Date Units Sold at Retail Activities Beginning inventory Purchase Sales Purchase Units
A company's inventory records report the following in November of the current year: Date Units Sold at Retail Activities Beginning inventory Purchase Sales Purchase Units Acquired at Cost 5 units @ $42 = $210 10 units @ $44 = $440 November 1 November 2 November 8 November 12 12 units @ $76 6 units @ $47 = $282 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 $342 U $474 O $ $524 O $408 $546
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