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determine the amount reported using LIFO Requirement 2. Determine the amount that would be reported in ending merchandise inventory on November 15 using the LIFO
determine the amount reported using LIFO
Requirement 2. Determine the amount that would be reported in ending merchandise inventory on November 15 using the LIFO inventory costing method. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and tota cost o merchandise inventory purchased, sold, and on hand at the end o the period. Enter al amount to the nearest cent, $ XX. Enter the oldest i ventory ayers fist Purchases Cost of Goods Sold Inventory on Hand UnitTotal Unit Total Unit Total Date Quantity C ost Cost Quantity Cost C Cost Quantity Cost Cost Nov. 2 13 14 TotalsStep by Step Solution
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