Answer Happy

Knowledge Check 01 Intercontinental, Incorporated, uses a perpetual inventory system. Consider the following information about its inventory: August 1, purchased 10 units for $910 or $91 per unit; August 3, purchased 15 units for $1,590 or $106 per unit; August 14, sold 20 units; August 17, purchased 20 units for $2,300 or $115 per unit; August 28, purchased 10 units for $1,190 or $119 per unit; August 30, sold 23 units. Using LIFO, the cost of goods sold for the sale of 23 units on August 30 is and the inventory balance at August 30 is X Answer is not complete. $ 2,737 Cost of goods sold Inventory balance