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June 1 June 10 A company that uses the perpetual inventory system sold goods to a customer on account on June 14 for $27. The
June 1 June 10 A company that uses the perpetual inventory system sold goods to a customer on account on June 14 for $27. The company has the following inventory information: Beginning Inventory 14 units at $3 each Purchase 16 units at 54 each June 11 Sale 13 units June 14 Sale 5 units The company uses the LIFO method of inventory costing. Which of the following journal entries correctly records the sale on June 14? O A. Accounts Receivable 27 Sales Revenue Cost of Goods Sold 18 Merchandise Inventory 27 18 27 27 OB. Accounts Receivable Sales Cost of Goods Sold Merchandise Inventory 39 39 27 27 OC. Cash Sales Revenue Cost of Goods Sold Merchandise Inventory 23 23 27 OD. Sales Revenue Accounts Receivable Cost of Goods Sold Merchandise Inventory 27 23 23
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