Question
Novak Corp. has the following inventory data: July 1 Beginning inventory 37 units at $23 $851 7 Purchases 128 units at $24 3072 22 Purchases
Novak Corp. has the following inventory data:
| July 1 | Beginning inventory | 37 units at $23 | $851 | |||
| 7 | Purchases | 128 units at $24 | 3072 | |||
| 22 | Purchases | 18 units at $27 | 486 | |||
| $4409 |
A physical count of merchandise inventory on July 30 reveals that there are 59 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is what?
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Practitioners Guide To Business Impact Analysis Internal Audit And IT Audit
Authors: Priti Sikdar
1st Edition
036756792X, 978-0367567927
