Question
Multiple Choice Question 182 Whispering Winds Corp. has the following inventory data: July 1 Beginning inventory 28 units at $5.50 5 Purchases 110 units at
Multiple Choice Question 182
Whispering Winds Corp. has the following inventory data:
| July 1 | Beginning inventory | 28 units at $5.50 | ||
| 5 | Purchases | 110 units at $6.10 | ||
| 14 | Sale | 74 units | ||
| 21 | Purchases | 55 units at $6.60 | ||
| 30 | Sale | 52 units |
Assuming that a perpetual inventory system is used, what is the cost of goods sold on a LIFO basis for July?
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
