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The Boxwood Company sells blankets for $35 each. The following was taken from the Inventory records during May. The company had no beginning inventory
The Boxwood Company sells blankets for $35 each. The following was taken from the Inventory records during May. The company had no beginning inventory on May 1. Date Blankets Units Cost May 3 Purchase $19 10 Sale 17 Purchase 20 Sale 23 Sale 30 Purchase 222 12 $16 $21 12 Assuming that the company uses the perpetual Inventory system, determine the cost of goods sold for the sale of May 20 using the LIFO Inventory cost method. Oa. $76 Ob. $252 Oc. $64 Od. $32
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