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Inventory Costing Methods-Perpetual Method The Luann Company uses the perpetual inventory system. The following July data are for an item in Luann's inventory: July 1

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Inventory Costing Methods-Perpetual Method The Luann Company uses the perpetual inventory system. The following July data are for an item in Luann's inventory: July 1 Beginning inventory 30 units @ $9 per unit 10 Purchased 50 units @ $11 per unit 15 Sold 60 units 26 Purchased 25 units @ $13 per unit Calculate the cost of goods sold for the July 15 sale using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Round your final answers to the nearest dollar. For weighted average cost, do not round the weighted-average unit cost. A. First-in, First-out: Cost of Goods Sold: B. Last-in, first-out: Cost of Goods Sold $ X C. Weighted-average cost: Cost of Goods Sold $ X Check

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