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The following information applies to the questions displayed below] At year-end, the perpetual inventory records of Anderson Co, indicate 60 units of a particular product

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The following information applies to the questions displayed below] At year-end, the perpetual inventory records of Anderson Co, indicate 60 units of a particular product in inventory, acquired at the following dates and unit costs: Purchased in August 30 units at $750 per unit. Purchased in November: 30 units at $700 per unit. A complete physical inventory taken at year-end indicates only 50 units of this product actually are on hand Assuming that Anderson uses the LIFO cost flow assumption, it should record this inventory shrinkage by Select one: A.Crediting Cost of Goods Sold S7,500 B.Crediting Cost of Goods Sold 87,000 C. Debiting Cost of Goods Sold $7,500 D. Debiting Cost of Goods Sold $7,000

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