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  3. a company's inventory records report the following

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

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Accounting

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A company's inventory records report the following in November of the current year: Units Sold at Retail Date November 1 November 2 November 8 November 12 Activities Beginning inventory Purchase Sales Purchase Units Acquired at Cost 5 units @ $20 = $100 10 units @ $22 = $ 220 12 units @ $54 6 units @ $25 = $150 Using the LIFO perpetual inventory method, what amount of gross profit was earned from the 12 units sold? Multiple Choice $366 (0) $438 o $388 O $260 $577

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