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Lincoln Retail Company has the following information related to its inventory of mens trousers for the month of July: Inventory on July 1 300 units
Lincoln Retail Company has the following information related to its inventory of mens trousers for the month of July: Inventory on July 1 300 units at $5.00 Purchase on July 9 900 units at $5.40 Purchase on July 19 210 units at $6.00 Inventory on July 31 300 units Required: For the month of July, What is the value of Cost of Goods Sold using LIFO? What is the value of Ending Inventory using FIFO
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