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Tom's Tools uses the LIFO system and made the following purchases and sales in August. The cost of goods available for sale for Tom's Tools

Tom's Tools uses the LIFO system and made the following purchases and sales in August. The cost of goods available for sale for Tom's Tools is Date Purchases Sales Remaining Inventory Balance Aug 1 100 units @ $5 Aug 7 40 units @ $12 Aug 14 80 units @ $7 Aug 21 60 units @ $14 Aug 28 90 units @ $8

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