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Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method. Date Activities Units Acquired at Cost
Given the following information, determine the cost of the inventory at June 30 using the LIFO perpetual inventory method.
Date Activities Units Acquired at Cost Units Sold at Retail
June 1 Beginning inventory 15 units @ $40 $600
June 15 Sale 6 units @ $70
June 29 Purchase 8 units @ $45 $360
Calculate the cost of the ending inventory.
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Fundamental Accounting Principles
Authors: John J Wild, Ken Shaw
25th Edition
1260247988, 978-1260247985
