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Discuss the lifo perpetual inventory method

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Reference no: EM131793309

A company's inventory records report the following in November of the current year:

Beginning November 1 5 units @ $10
Purchase November 2 10 units @ $12
Purchase November 6 6 units @ $14

On November 8, it sold 18 units for $40 each. Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 18 units sold?

Reference no: EM131793309

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