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compute the 2020 cost of goods sold using the LIFO method. Oriole Sports began operations on January 2, 2020. The following stock record card for
compute the 2020 cost of goods sold using the LIFO method. Oriole Sports began operations on January 2, 2020. The following stock record card for footb. Date 1/15 3/15 6/20 9/12 11/24 Voucher 10624 11437 21332 27644 31269 Totals Terms Net 30 1/5, net 30 1/10, net 30 1/10, net 30 1/10, net 30 Units Received 70 85 110 104 96 465 Unit Invoice Cost $30 24 22 18 16 Gross Invoice Amount $2,100 2,040 2,420 1,872 1,536 $9,968 A physical inventory on December 31, 2020, reveals that 114 footballs were in stock. The book invoice price less discount for recording purchases
compute the 2020 cost of goods sold using the LIFO method.
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