Question: JUST B PLS Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item CZ83 are as follows: January 1 Inventory 84 units@ $16 5

JUST B PLS

Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item CZ83 are as follows: January 1 Inventory 84 units@ $16 5 Sale 67 units 11 Purchase 93 units@ $20 21 Sale 78 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on January 21 and (b) the inventory on January 31. a. Cost of merchandise sold on January 211 1,560 b. Inventory on January 31 516 X

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