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Date A company's inventory records report the following in November of the current year. Activities Units Acquired at Cost Units Sold at Retail Nov. 1
Date A company's inventory records report the following in November of the current year. Activities Units Acquired at Cost Units Sold at Retail Nov. 1 Beginning inventory 5 units @ $54 = $ 270 Nov. 2 Purchase 10 units @ $56 = $ 560 Nov 8 Sales 12 units @ $88 Nov. 12 Purchase 6 units @ $59 = $ 354 Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 12 units sold? $690 O $668 $426 $516 $594 Units Sold at Retail QUESTION 6 A company's inventory records report the following: Date Activities Units Acquired at Cont Aug 1 Beginning inventory 15 units @ 548 $720 Aug 5 Purchase 10 units @ $49$ 490 Aug. 12 Purchase 20 units @ $50 - $1,000 Aug. 15 Sales 30 units sold Using the FIFO perpetual inventory method, what in the value of the inventory at August 15 after the salo? $1,460 $2,210 $500 $750 $340
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