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assuming that a perpetual inventory system is used compute the cost of good sold for the month of may using LIFO points) A record of

assuming that a perpetual inventory system is used compute the cost of good sold for the month of may using LIFO

points) A record of transactions for the month of May was as follows: Sales May 1 Purchases (balance) 400 @ $5.10 1,400 @ $5.20 600 @ $5.30 May 3 200 1,000 500

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