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Johnson Fashion Inc. sells socks. During January 2014, its inventory records for one particular brand of socks were as follows: Quantity Price per pairTotal Beginning
Johnson Fashion Inc. sells socks. During January 2014, its inventory records for one particular brand of socks were as follows:
Quantity Price per pairTotal
Beginning Inventory
6 pairs
$18
$108
January 6 Purchase
3 pairs
$16
$48
January 10 Sale
5 pairs
N/A
January 15 Purchase
8 pairs
$15
$120
January 20 Sale
10 pairs
N/A
January 25 Purchase
4 pairs
$22
$88
Using this information, perpetual LIFO cost of goods sold is?
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