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Help Save & Exit Submit Given the following information, determine the cost of the inventory at June 30 using the perpetual L

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Answer #1

LIFO Inventory Schedule

Date

Goods Purchased

Cost of goods sold

Inventory Balance

Qty Purchased

Cost per unit

Total Cost

Qty Sold

Cost per unit

Cost of goods sold

Inventory Qty

Cost per unit

Total Cost

June 01

20

20

400

June 15

12

20

240

8

20

160

June 29

12

25

300

8

20

160

12

25

300

Total

240

20

460

“Hence, the cost of ending inventory will be $460”

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