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Windsor, Inc. has the following inventory data: July 1 Beginning inventory 26 units at $5.20 5 Purchases 103 units at $5.70 14 Sale 69 units
Windsor, Inc. has the following inventory data:
| July 1 | Beginning inventory | 26 units at $5.20 | ||
| 5 | Purchases | 103 units at $5.70 | ||
| 14 | Sale | 69 units | ||
| 21 | Purchases | 52 units at $6.20 | ||
| 30 | Sale | 48 units |
Assuming that a perpetual inventory system is used, what is the value of ending inventory on a LIFO basis for July?
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CIA Exam Practice Questions Certified Internal Auditor
Authors: The Internal Audit Foundation
1st Edition
163454045X, 978-1634540452
