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The inventory data for an item for November are: Nov. 1 Inventory 17 units at $22 4 Sold 10 units 10 Purchased 31 units at
The inventory data for an item for November are:
| Nov. 1 | Inventory | 17 units at $22 | |
| 4 | Sold | 10 units | |
| 10 | Purchased | 31 units at $23 | |
| 17 | Sold | 25 units | |
| 30 | Purchased | 25 units at $24 |
Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO?
a.$899
b.$795
c.$788
d.$949
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The Curriculum Management Audit
Authors: Larry E. Frase, Fenwick W. English, William K. Poston
1st Edition
0810839318, 9780810839311
