What would be the company''s cost of goods sold in dollars

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Reference no: EM133360307

Question: Our company had the following balances and transactions during the current year related to merchandise inventory.

Beginning merchandise inventory on January 1 120 units at $70 per unit
Purchase on February 14 100 units at $85 per unit
Sale on August 21 120 units

What would be the company's cost of goods sold in dollars on December 31 if the company used perpetual, last in, first out (LIFO) method?

Reference no: EM133360307

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