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me company uses the LIFO inventory costing method, w much is cost of goods sold for the month of March? O a. $208 O b. $212 O c. $204

me company uses the LIFO inventory costing method, w much is cost of goods sold for the month of March? O a. $208 O b. $212 O c. $204

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...
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Figure out Cost of goods sold for March

Lowery Company uses a perpetual inventory system. The following information is available for the month of March: Mar. 1 On hand, 10 units at $2 each Sold 8 units for $10 each Purchased 50 units at $4 each Sold 48 units for $10 each O 4 O 22 If the company uses the LIFO inventory costing method, how much is cost of goods sold for the month of March? 26 a. $208 b. $212 O c. $204 O d. $560
Transcribed Image Text:Lowery Company uses a perpetual inventory system. The following information is available for the month of March: Mar. 1 On hand, 10 units at $2 each Sold 8 units for $10 each Purchased 50 units at $4 each Sold 48 units for $10 each O 4 O 22 If the company uses the LIFO inventory costing method, how much is cost of goods sold for the month of March? 26 a. $208 b. $212 O c. $204 O d. $560
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