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GTI Company uses a perpetual inventory system. It entered into the following purchase and sale transactions for April: Date Activity Units acquired at cost Units

GTI Company uses a perpetual inventory system. It entered into the following purchase and sale transactions for April:

Date Activity Units acquired at cost Units sold at retail
April 1 beginning inventory 20 units @ $3,000/unit
April 5 purchase 30 units @ $3,500/unit
April 9 sale 35 units @ $12,000/unit
April 18 purchase 5 units @ $4,500/unit
April 25 purchase 10 units @ $4,800/unit
April 29 sale 25 units @ $14,000/unit
TOTALS 65 units 60 units

Compute the cost of goods sold for the month using LIFO:

$770,000

$220,500

$215,500

$24,000

$211,500

$235,500

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