Venus Wholesale Company started carrying a new product in December Purchases and sales of this product during the month were December 20 Purchased 260 units at $96 per unit December 26 Sold 250 units December 28 Purchased 260 units at $102 per unit Assuming the LIFO flow assumption is in use, the p...

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Venus Wholesale Company started carrying a new product in December. Purchases and sales of this product during

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Venus Wholesale Company started carrying a new product in December. Purchases and sales of this product during the month were:

December 20	Purchased 260 units at $96 per unit.
December 26	Sold 250 units.
December 28	Purchased 260 units at $102 per unit.

Assuming the LIFO flow assumption is in use, the perpetual inventory records will indicate an ending inventory of this product of:

$27,280.

$27,080.

$22,560.

$24,660.

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Core Concepts of Accounting

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Posted Date: Apr 03, 2022 04:06 AM

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