FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were...
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FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: Beginning inventory 20 units at $40 Sale 17 units at $56 First purchase 24 units at $42 Sale 13 units at $56 Second purchase 28 units at $43 Sale 19 units at $58 The firm uses the perpetual inventory system, and there are 23 units of the item on hand at the end of the year. a. What is the total cost of the
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