Question
The following information pertains to Julia & Company: March 1 Beginning inventory = 26 units @ $5.20 March 3 Purchased 14 units @ 4.00 March
The following information pertains to Julia & Company:
| March | 1 | Beginning inventory = 26 units @ $5.20 | ||
| March | 3 | Purchased 14 units @ 4.00 | ||
| March | 9 | Sold 24 units @ 8.30 |
What is the cost of goods sold for Julia & Company assuming it uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)
Multiple Choice
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$104.
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$108.
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$96.
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$125.
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
3rd edition
132890542, 978-0132890540
