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Question
different lifo inventory assumptions:
beginning inventory of 10 units @$15 = $150
purchases month #1 of 10 units @$15 = $150
purchases month #2 of 10 units @$10 = $100
cost of goods available for sale (subtotal) = $400
less ending inventory of 10 units
equals cost of goods sold (also known as cost of sales)
under the lifo inventory method, what is the cost of goods sold amount?
a $300
b $250
c $200
d none of the above
Answer
This answer is hidden. It contains 1 characters.
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