Question
atsoi Companys purchase and sales transactions for the month of May were as follows: Purchases Sales May 1 (beg. balance) 2,000@ 300 May 2 1,200@
atsoi Companys purchase and sales transactions for the month of May were as follows:
Purchases Sales
May 1 (beg. balance) 2,000@ 300 May 2 1,200@ 600
7 6,000@ 320 14 4,800@ 600
22 2,000@ 330 28 2,000@ 650
Assuming that the company keeps perpetual inventory records, Tatsois cost of goods sold for the month of May on a LIFO basis is?
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Financial Accounting An International Perspective
Authors: Arne Kinserdal
2nd Edition
0273631543, 978-0273631545
