Using the information from RE7-12, calculate Carla Company€™s cost of goods sold for January and its January 31 inventory using the LIFO method.
RE7-12
Carla Company uses the perpetual inventory system. The following information is available for January of the current year when Carla sold 1,600 units of inventory on January 14.

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Units 1,500 1,100 2,600 Cost/Unit $0.25 0.27 Total Cost Inventory, Jan. 1 Purchases, Jon 13 $375 297 $672