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Home Q & A Board Other Fields Homework Help Business Accounting
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tivo tivo
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7 years ago
Lionworks Enterprises had the following inventory data:

Date      Quantity   Unit cost
July 1   Beginning inventory   5   $52
July 4   Purchase   10   $55
July 7   Sale   12   
July 11   Purchase   9   $58
July 14   Sale   8   

Assuming LIFO, what is the cost of goods sold for the July 7 sale?
A) $648
B) $654
C) $660
D) $645
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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largerthanlifelargerthanlife
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7 years ago
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tivo Author
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#2
7 years ago
Amazing, that's all I can say
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