Question: Problem F Refer to the data in problem E a. Using LIFO perpetual inventory procedure, prepare the journal entries for the purchases and sales (Cost

Problem F Refer to the data in problem E

a. Using LIFO perpetual inventory procedure, prepare the journal entries for the purchases and sales (Cost of Goods Sold entry only).

b. Repeat

(a) using LIFO periodic inventory procedure, including closing entries. (Note: You may want to refer to the Appendix in Chapter 6 for this part.)

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