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Morgan Inc. has the following units and costs for the month of April: Units Purchased at Cost Units Sold at Retail Beginning inventory, April 1
Morgan Inc. has the following units and costs for the month of April:
| Units Purchased at Cost | Units Sold at Retail | |
| Beginning inventory, April 1 | 1,200 units at $25 | |
| Purchase 1, April 9 | 1,500 units at $28 | |
| Sale 1, April 12 | 2,400 units at $45 | |
| Purchase 2, April 22 | 1,000 units at $30 |
If Morgan uses a perpetual inventory system, what is the cost of goods sold under LIFO at April 30?
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Eoc Only Davis Managerial Accounting
Authors: Charles E. Davis, Elizabeth Davis
2nd Edition
111883464X, 978-1118834640
