Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item CZ83 are as follows: July 1 Inventory 104 units @ $20 Sale 83 units 11 Purchase 115 units @ $23 21 Sale 97 units...

Perpetual Inventory Using LIFO<br>Beginning inventory, purchases, and sales for Item CZ83 are as follows:<br>July 1<br>Inventory<br>104 units @ $20<br>Sale<br>83 units<br>11<br>Purchase<br>115 units @ $23<br>21<br>Sale<br>97 units<br>Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on July 21 and (b) the inventory on July 31.<br>a. Cost of merchandise sold on July 21<br>b. Inventory on July 31<br>

Extracted text: Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item CZ83 are as follows: July 1 Inventory 104 units @ $20 Sale 83 units 11 Purchase 115 units @ $23 21 Sale 97 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of merchandise sold on July 21 and (b) the inventory on July 31. a. Cost of merchandise sold on July 21 b. Inventory on July 31

Jun 09, 2022

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Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales for Item CZ83 are as follows: July 1 Inventory 104 units @ $20 Sale 83 units 11 Purchase 115 units @ $23 21 Sale 97 units...

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