Chase Company uses the perpetual inventory method. The inventory records for Chase reflected the following information:...

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Chase Company uses the perpetual inventory method. The inventory records for Chase reflected the following information: January 1 Beginning inventory January 12 Purchase January 18 Sales January 21 Purchase January 25 Purchase January 31 Sales 2,100 units @ $5.90 2,200 units @ $5.70 2,300 units @ $7.40 2,100 units @ $6.00 1,900 units @ $5.80 2,250 units @ $7.40 Assuming Chase uses a LIFO cost flow method, what is the amount of cost of goods sold for the sales transaction on January 18? Multiple Choice О $13,130 $13,570 ○ $13,110 $13,530 Chase Company uses the perpetual inventory method. The inventory records for Chase reflected the following information: January 1 Beginning inventory January 12 Purchase January 18 Sales January 21 Purchase January 25 Purchase January 31 Sales 2,100 units @ $5.90 2,200 units @ $5.70 2,300 units @ $7.40 2,100 units @ $6.00 1,900 units @ $5.80 2,250 units @ $7.40 Assuming Chase uses a LIFO cost flow method, what is the amount of cost of goods sold for the sales transaction on January 18? Multiple Choice О $13,130 $13,570 ○ $13,110 $13,530

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To calculate the cost of goods sold COGS using the LIFO Last In First Out method we need to determin... View the full answer