Solution-Determine the cost of goods sold on mar

Determine the cost of goods sold on mar

Reference no: EM133105261

Question - Perpetual Inventory Using LIFO - Beginning inventory, purchases, and sales for Item 88-HX are as follows:

Mar. 1 Inventory 106 units @ $21

Mar. 8 Sale 85 units

Mar. 15 Purchase 118 units @ $25

Mar. 27 Sale 99 units

Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on Mar. 27 and (b) the inventory on Mar. 31.

Reference no: EM133105261

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Determine the cost of goods sold on mar

Reference no: EM133105261

Reference no: EM133105261

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