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Question;7. Rick Company?sbeginning;inventory and purchases during;the fiscal year ended December 31, 2012, were as follows;(Note: The company uses a perpetual system of inventory.);Units Unit Price Total Cost;January 1?Beginning inventory 18 $24 $432;March 12?Sold 13;April 11?Purchase 45 $29 $1,305;June 20?Sold 33;Aug 16?Purchase 35 $27 $945;Sept 11?Sold 29;Total Cost of Inventory;Ending inventory is 23 units. $2,682;What is the cost of goods sold for Rick Company for 2012 using LIFO?

 

Paper#44328 | Written in 18-Jul-2015

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