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Discuss a perpetual inventory system on a fifo basis

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Logan Company uses a perpetual inventory system on a FIFO basis. Assuming inventory on January 1 was 1,160 units at $7.70 each.

Received   Sold
 
  Date Quantity Cost per unit Date Quantity
  Apr. 15 190 $4.70   Mar. 8 590
  Nov. 12 1,870 8.70   Oct. 5 290

Reference no: EM131803440

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