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McDonald's Corporation uses the LIFO method for inventory valuation. The following inventory transactions occurred during the month: Beginning Inventory: 100 units at $10 per unit
McDonald's Corporation uses the LIFO method for inventory valuation. The following inventory transactions occurred during the month:
- Beginning Inventory: 100 units at $10 per unit
- Purchases:
- June 5: 200 units at $12 per unit
- June 15: 150 units at $15 per unit
- Sales:
- June 8: 150 units
- June 20: 200 units
Calculate the cost of goods sold for the month using the LIFO method for McDonald's Corporation.
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