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Perpetual inventory using LIFO Beginning inventory, purchases, and sales for Item 8 8 - H x are as follows: table [ [ y 1
Perpetual inventory using LIFO
Beginning inventory, purchases, and sales for Item are as follows:
tableInventory, units @ $July Sale, unitsJuly Purchase, units @$July Sale, units
Assuming perpetual inventory system and using the lastin firstout LIFO method, determine a the cost of goods sold on July and b the inventory on July
a Cost of goods sold on July
b Inventory on July
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