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The Book company sells textbooks. During November 2019, its inventory records for the category Accounting Books were as follows: Books Cost per Book Beginning Inventory

The Book company sells textbooks. During November 2019, its inventory records for the category "Accounting Books" were as follows:

Books Cost per Book
Beginning Inventory 600 $9 $5,400
November 4 Purchase 230 $10 $2,300
November 5 Sale 560 N/A
November 8 Purchase 890 $11 $9,790
November 16 Purchase 800 $9 $7,200
November 18 Purchase 332 $10 $3,320
November 24 Sale 135 N/A
November 28 Purchase 460 $12 $5,520

1. Using the information above, COGS using the perpetual average cost method is:

a. $5,234.65

b. $6,988.85

c. $6,538.99

d. $5,985.63

2. Using the information above, periodic LIFO ending inventory is:

a. $26,980

b. $28,770

c. $25,660

d. $23,654

3. Using the information above, COGS using the periodic average cost method is:

a. $8,965

b. $7,036

c. $6,910

d. $11,252

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