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Find what is cost of goods sold using the lifo method

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Problem 1: A company has beginning inventory of 300 units at $ 14.97 each; They purchased 400 units at $ 12.82 each on June 2; On June 15, they also purchased 200 units at $ 5.99 each. A physical count of merchandise inventory at the end of the month revealed that 500 units were sold. What is the cost of goods sold using the LIFO inventory method?

Reference no: EM132702304

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