Lauer Corporation uses the periodic inventory system and has provided the following information about one...
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Accounting
Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers: Date Transaction Number of Units Cost per Unit 1/1 Beginning Inventory 170 $870 5/5 Purchase 270 $970 8/10 Purchase 370 $1,070 10/15 Purchase 235 $1,120 During the year, Lauer sold 925 laptop computers. What was cost of goods sold using the LIFO cost flow assumption?
$964,500.
$946,156.
$934,500.
$942,500.
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