Question: What is the calculation used for this answer? 1.Terry Corp uses a perpetual inventory accounting system. Terry Corp has a beginning inventory of 12 units

What is the calculation used for this answer?

1.Terry Corp uses a perpetual inventory accounting system. Terry Corp has a beginning inventory of 12 units at $20 each on January 1, 20X1. The following inventory transactions occurred during the month of June:

If Terry Corp uses the LIFO inventory costing method, Terry Corp will record cost of goods sold for the units sold on June 25 of ________.

a.$591.00

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