Question
Company X sells socks. During January 2014, it inventory records for one particular brand of socks were as follows: Beginning Inventory 6 pairs $18 =
Company X sells socks. During January 2014, it inventory records for one particular brand of socks were as follows:
Beginning Inventory 6 pairs $18 = $108
Jan 6 Purchase 3 pairs $16 = $48
Jan 10 Sale 5 pairs N/A
Jan 15 Purchase 8 pairs $15 = $120
Jan 20 Sale 10 pairs N/A
Jan 25 Purchase 4 pairs $22 - $88
Using this information, perpetual LIFO cost of goods is?
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Financial And Managerial Accounting
Authors: Jan R. Williams, Joseph V. Carcello, Mark S. Bettner, Sue Haka, Susan F. Haka
14th International Edition
0071101217, 9780071101219
