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The inventory data for an item for November are: Nov. 1 Inventory 20 units at $19 4 Sold 10 units 10 Purchased 30 units at
The inventory data for an item for November are:
| Nov. 1 | Inventory | 20 units at $19 |
| 4 | Sold | 10 units |
| 10 | Purchased | 30 units at $20 |
| 17 | Sold | 20 units |
| 30 | Purchased | 10 units at $21 |
Using a perpetual system, what is the cost of the merchandise sold for November if the company uses LIFO?
a. $600
b. $610
c. $590
d. $580
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Internal Auditing A Guide For The New Auditor
Authors: David Galloway
3rd Edition
0894136917, 9780894136917
