QUESTION 10 Eastview Company uses a perpetual LIFO inventory system, and has the following purchases and sales: Date Act

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Question 10 Eastview Company Uses A Perpetual Lifo Inventory System And Has The Following Purchases And Sales Date Act 1 (99.38 KiB) Viewed 3 times

QUESTION 10 Eastview Company uses a perpetual LIFO inventory system, and has the following purchases and sales: Date Activities Units Acquired at Cost Units Sold at Retail January 1 Purchase 150 units @ $9 = $1,350 January 17 Sales January 20 Purchase 160 units @ $11 = $1,760 January 29 Sales What is the value of ending inventory? O $2,670. O $440. $2,750. O $2,730. O $380. 120 units sold 150 units sold QUESTION 11 A company's inventory records report the following in November of the current year: Date Units Acquired at Cost Units Sold at Retail Activities November 1 Beginning inventory 5 units @ $20 = $100 November 2 Purchase 10 units @ $22 = $220 November 8 Sales November 12 Purchase 6 units @ $25 = $150 12 units @ $54 Using the LIFO perpetual inventory method, what was the amount recorded in the cost of goods sold account for the 12 units sold? $260 $188 $210 $254 $282