Cruiser Video was involved in the following transactions during August concerning DVD players: August 1 beginning inventory10
Question:
August 1 beginning inventory10 @ $60,
August 10 Purchased 5 @ $64,
August 15 Sold 12 for $80 per unit,
August 28 Purchased 5 @ $66,
Calculate the cost of sales of DVDs for Cruiser Video in August assuming the use of the LIFO method under a periodic inventory system.
1. $960
2. $810
3. $770
4. $760
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Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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