Question
A firm uses LIFO and had the following inventory transactions: May 1 Purchased 20 pens @ $ 2.00 each May 31 Purchased 25 pens @
A firm uses LIFO and had the following inventory transactions: May 1 Purchased 20 pens @ $ 2.00 each May 31 Purchased 25 pens @ $ 2.25 each June 15 Purchased 30 pens @ $ 2.45 each June 27 Sold 27 pens @ $ 3.00 each June 30 Sold 17 pens @ $ 3.00 each How much was the firms COGS for May 1- June 30?
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Principles Of Financial And Managerial Accounting Volume 2
Authors: Thomas D Hubbard
3rd Edition
0873934911, 978-0873934916
