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  3. syrio's snowboards has the following lifo perpetua

Syrio's Snowboards has the following LIFO perpetual inventory records: Date February 1 February 5 February...

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Syrio's Snowboards has the following LIFO perpetual inventory records: Date February 1 February 5 February 10 February 28 Purchases $200 $400 ld Inventory on Hand $600 $800 $700 $1,100 $100 The current replacement cost of the ending inventory is $1,400. To apply the lower-of-cost-or- market rule, the journal entry would be O A. debit Inventory $300, credit Cost of Goods Sold $300 O B. No entry required, since the amount is not material C. O D. No entry required, since historical cost is less than replacement. debit Cost of Goods Sold $300, credit Inventory $300

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