Question
Cranes has the following inventory data: Nov. 1Inventory25units @ $6each 8Purchases98units @ $6each 17Purchases49units @ $6each 25Purchases74units @ $7each A physical count of merchandise inventory
Cranes has the following inventory data:
Nov. 1Inventory25units @ $6each
8Purchases98units @ $6each
17Purchases49units @ $6each
25Purchases74units @ $7each
A physical count of merchandise inventory on November 30 reveals that there are82units on hand. Cost of goods sold under LIFO is:
$984.
$1058.
$492.
$566.
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Cost management a strategic approach
Authors: Edward J. Blocher, David E. Stout, Gary Cokins
5th edition
73526940, 978-0073526942
