Ted's Sports Center purchased two identical basketballs for resale. One was purchased in June at...
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Accounting
Ted's Sports Center purchased two identical basketballs for resale. One was purchased in June at a cost of $ and the other was purchased in July at a cost of $ Assume Ted's uses the lastin firstout LIFO cost flow method. If Ted's sells one of the balls in August, which of the following amounts would be charged to the Cost of Goods Sold account?
Multiple choice question.
$
$
either $ or $
$
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