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Nemo and Dory use a periodic inventory system with the following info: Inventory, May 1 300 Units @ 65 Purchase, May 7 450 units @68
Nemo and Dory use a periodic inventory system with the following info:
Inventory, May 1 | 300 Units @ 65 |
Purchase, May 7 | 450 units @68 |
Sales, May 14 | 700 units @110 |
Purchase May 25 | 225 @ 70 |
What is the value of COST OF GOODS SOLD if Nemo and Dory use LIFO under PERIODIC INVENTORY SYSTEM?
Please show every calculation!
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