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Eastview company uses a perpetual LIFO inventory system, and has the following purchases and sales:
Date Activities Units required at cost Units sold at retail
Jan 1 Purchase 150 units @ $9 = $1,350
Jan 17 Sales 120 units sold
Jan 20 Purchase 160 units @ $11 = $1,760
Jan 29 Sales 150 units sold
What is the value of cost of goods sold?
a. $380
b. $2,730
c. $2,670
d. $440
e. $2,750
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