The inventory data for an item for November are: Nov. 1 Inventory 21 units at $20
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Question:
The inventory data for an item for November are:
Nov. 1 | Inventory | 21 units at $20 |
4 | Sale | 11 units |
10 | Purchase | 30 units at $22 |
17 | Sale | 19 units |
30 | Purchase | 23 units at $24 |
Using a perpetual system, what is the cost of merchandise sold for November if the company uses LIFO?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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