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Concords has the following inventory data: Nov. 1 Inventory 24 units @ $4.80 each 8 Purchase 96 units @ $5.15 each 17 Purchase 48 units
Concords has the following inventory data:
| Nov. 1 | Inventory | 24 units @ $4.80 each | ||
| 8 | Purchase | 96 units @ $5.15 each | ||
| 17 | Purchase | 48 units @ $5.05 each | ||
| 25 | Purchase | 72 units @ $5.30 each |
A physical count of merchandise inventory on November 30 reveals that there are 80 units on hand. Cost of goods sold under LIFO is
$812.
$830.
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Accounting For Business
Authors: Peter Scott
3rd Edition
0198807791, 978-0198807797
