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Blossom has the following inventory data: July 1 Beginning inventory 35 units at $71 5 Purchases 212 units at $66 14 Sale 142 units 21
Blossom has the following inventory data:
| July 1 | Beginning inventory | 35 units at $71 | ||
| 5 | Purchases | 212 units at $66 | ||
| 14 | Sale | 142 units | ||
| 21 | Purchases | 106 units at $68 | ||
| 30 | Sale | 99 units |
Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis for July?
|
| $7869 |
|
| $7569 |
|
| $7581 |
|
| $7617 |
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Statistical Sampling And Risk Analysis In Auditing
Authors: Peter Jones
1st Edition
1138263214, 978-1138263215
