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Lauer Corporation uses a periodic inventory system and provides the following information about its laptop computers. During the year, Lauer sold 650 laptop computers. a.
Lauer Corporation uses a periodic inventory system and provides the following information about its laptop computers. During the year, Lauer sold 650 laptop computers. a. Using the LIFO cost flow assumption, calculate goods available for sale, cost of goods sold, and the ending inventory balance. b. Draw the inventory T-account, remembering to show the beginning and ending balances, classification in parentheses, and +/ signs
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