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During July the following purchases and sales were made by Cullumber Company. There was nobeggining inventory. Cullumber Company uses aperpetual inventory system. July 3, 40
During July the following purchases and sales were made by Cullumber Company. There was nobeggining inventory. Cullumber Company uses aperpetual inventory system. July 3, 40 units @ $8 and July 13, 50 unitsJuly 11, 40 units@$9, July 20, 17 units @ $11. and July 22, 17 units. Under the Lifo method, the COGS for ech sale is:
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