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Perpetual inventory using LIFO Beginning inventory, purchases, and sales data for DVD players are as...

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Accounting

Perpetual inventory using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: Date Line Item Description Units and Cost Nov. 1 Inventory 43 units at $42 10 Sale 30 units 15 Purchase 57 units at $45 20 Sale 31 units 24 Sale 9 units 30 Purchase 30 units at $48 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit

image Perpetual inventory using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4 . Under LI Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column

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