Question
Hello I would like a step by step of how to solve this question please. Thank you! Determine the cost of goods sold for the
Hello I would like a step by step of how to solve this question please. Thank you!
Determine the cost of goods sold for the transaction on October 8 using the perpetual inventory system and the LIFO method.
| Date | Item | Units | Cost | Total |
|---|---|---|---|---|
| Beginning inventory | 6 | $9 | $54 | |
| October 4 | Purchase | 8 | 11 | 88 |
| October 8 | Sale | 6 | ||
| October 20 | Purchase | 12 | 13 | 156 |
| October 25 | Sale | 9 |
a.$117
b.$66
c.$156
d.$88
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Security Audit And Control Features SAP ERP
Authors: Deloitte Touche Tohmatsu Research Team And Isaca
3rd Edition
1604201150, 978-1604201154
