Question
Units Unit Cost Total Cost Beginning Inventory 5 $ 10 $ 50 First Purchase 5 $ 12 $ 60 Second Purchase 5 $ 14 $
| Units | Unit Cost | Total Cost | |
| Beginning Inventory | 5 | $ 10 | $ 50 |
| First Purchase | 5 | $ 12 | $ 60 |
| Second Purchase | 5 | $ 14 | $ 70 |
| Third Purchase | 10 | $ 16 | $ 160 |
Under a Perpetual System and assuming LIFO, if a business sold 5 units on June 15, what is the cost of goods sold? Assume no other sales occurred prior to June 15. $_______?
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Cost Accounting Concepts And Applications For Managerial Decision Making
Authors: Ralph S. Polimeni, James A. Cashin, Frank J. Fabozzi, Arthur H. Adelberg
2nd Edition
0070103100, 978-0070103108
