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What was the amount recorded in cost of goods sold account

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Reference no: EM132841046

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

Beginning

November 15 units @ $10

Purchase

November 210 units @ $12

Purchase

November 126 units @ $14

Problem 1: On November 8, it sold 12 units for $40 each. Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 12 units sold?

Reference no: EM132841046

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