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Question - Blossoms has the following inventory data:
Nov. 1. Inventory 35 units @ $7.10 each
Nov 8 Purchase 142 units @ $7.60 each
Nov 17. Purchase 71 units @ $7.45 each
Nov 25. Purchase106 units @ $7.80 each
A physical count of merchandise inventory on November 30 reveals that there are 118 units on hand. Compute Cost of Goods sold under LIFO?
$1804.
$879.
$916.
$1767.
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The problem belongs to Basic Accounting and it discusses about accounts receivable staying the same and credit sales going up
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On the basis of your calculations, describe how each of the three components (profit margin, asset turnover, and leverage) contributed to the change in OBMM's.
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