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Geoffry Hesse Exports The following data are available for one of the products sold by...

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Accounting

Geoffry Hesse Exports The following data are available for one of the products sold by Geoffry Hesse Exports, which uses a perpetual inventory system. July 1 Beginning inventory, 1,000 units at $2 each $2,000 5 Purchased 2,000 units at $2.75 each 5,500 10 Sold 2,500 units for $16 each 15 Purchased 2,000 units at $4 each 8,000 25 Sold 1,500 units for $12 each 31 Ending inventory, 1,000 units Refer to the information provided for Geoffry Hesse Exports. If the LIFO method of inventory costing is used, determine the following amounts: A) Cost of goods sold for the units sold on July 10th. $ B) Ending inventory on July 31st. $

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