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Crowe Co. uses the perpetual inventory method. The inventory records for Vulcan reflected the following Jan 1 Beginning Inventory 600 units @ $2.40 Jan 12
Crowe Co. uses the perpetual inventory method. The inventory records for Vulcan reflected the following |
Jan 1 | Beginning Inventory | 600 units @ $2.40 |
Jan 12 | First Purchase | 700 units @ $2.70 |
Jan 18 | Sales | 800 units @ $3.30 |
Jan 21 | Second Purchase | 600 units @ $2.50 |
Jan 25 | Third Purchase | 130 units @ $2.60 |
Jan 31 | Sales | 700 units @ $3.30 |
Assuming Crowe uses a LIFO cost flow method, the amount of cost of goods sold for the sales transaction onJanuary 18 is (round the final result to the nearest whole dollar):
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