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The following information relates to inventory for Arthur Inc. Date Quantity Price March 1 Beginning Inventory 20 $ 2 March 7 Purchase 15 3 March
The following information relates to inventory for Arthur Inc.
| Date | Quantity | Price | |
| March 1 | Beginning Inventory | 20 | $ 2 |
| March 7 | Purchase | 15 | 3 |
| March 11 | Sale | 25 | 7 |
| March 12 | Purchase | 20 | 4 |
At what amount would Arthur report gross profit using LIFO cost flow assumptions?
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The Software Audit Guide
Authors: John W. Helgeson
1st Edition
0873897730, 978-0873897730
