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The inventory data for an item for November are: Nov. 1 Inventory 25 units at $24 4 Sold 9 units 10 Purchased 29 units at
The inventory data for an item for November are:
| Nov. 1 | Inventory | 25 units at $24 | |
| 4 | Sold | 9 units | |
| 10 | Purchased | 29 units at $20 | |
| 17 | Sold | 18 units | |
| 30 | Purchased | 24 units at $23 |
Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO?
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Integrated Audit Practice Case
Authors: David S. Kerr, Randal J. Elder, Alvin A. Arens
5th Edition
0912503351, 9780912503356
