accounting 290

User Generated

gunaqvs

Business Finance

Description

A company just starting business made the following inventory transactions in August:



Purchase on August 1300 units$1,560
Sale on August 8200 units3,400
Purchase on August 12400 units1,340
Sale on August 24350 units5,950

Using the LIFO inventory method, how much is cost of goods sold for August using a perpetual inventory system?




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Explanation & Answer

$2...


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