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Julian Junkets uses a perpetual system of inventory and has the following inventory information: Date Units Unit Cost Total Cost July 1 Beginning Inventory 2,000
Julian Junkets uses a perpetual system of inventory and has the following inventory information: Date Units Unit Cost Total Cost July 1 Beginning Inventory 2,000 $ 4.00 $ 8,000 July 5 Purchase 6,000 $ 4.40 $ 26,400 July 14 Sale 4,000 July 31 Purchase 2,000 $ 4.75 $ 9,500 $43,900 a. How many units remain unsold at July 31st A/ What is the value of the cost of goods sold on July 14th using LIFO as a valuation method in a perpetual system? What is the value of the ending inventory at July 31st using LIFO as a valuation method in a perpetual system? The following chart has been provided to help guide your calculations. Using scratch paper, fill in the chart to help compute your answers
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