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Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost of goods sold for the month of November of
Using a LIFO perpetual cost flow, calculate the value of the ending inventory and the cost of goods sold for the month of November of Beamer Company using the data below.
Transaction | Quantity | Cost per unit | Price per unit | |
Nov 1 Nov 4 Nov 11 Nov 12 Nov 22 Nov 23 | Purchased Sold Purchased Sold Purchased Sold | 600 units 200 units 350 units 275 units 175 units 155 units | $80 each
$82 each
$84 each |
$90 each
$ 90 each $ 90 each |
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