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Need help please!! The inventory data for an item for November are: Nov. 1 Inventory 15 units at $18 4 Sold 11 units 10 Purchased
Need help please!!
The inventory data for an item for November are: Nov. 1 Inventory 15 units at $18 4 Sold 11 units 10 Purchased 35 units at $19 23 units 17 Sold 30 Purchased 25 units at $24 Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO? Oa. $904 O. S631 Oc. $707 Od $635 The following lots of Commodity Z were available for sale during the year. Beginning inventory 11 units at $50 First purchase 18 units at $55 Second purchase 54 units at $56 Third purchase 13 units at $63 The firm uses the periodic system, and there are 27 units of the commodity on hand at the end of the year. What is the ending Inventory balance at the end of the year according to the LIFO method? Oa. $1.430 Ob. $1,603 Oc. 55,383 Od. $1,350 Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September. Sep. 1 Inventory 20 units at $20 4 Sold 10 units 10 Purchased 30 units at $25 17 Sold 20 units 30 Purchased 10 units at $30 If Addison uses FIFO, the September 30 inventory is Oa. $750 Ob. 5800 Oc. $700 Od $650 Step by Step Solution
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