3. On June 1, 2020, Company AAA has 10 units of inventory with a unit cost of $5. The company purchased additional 10 units @ $5.5, 15 units @$4, and 20 units @ $6 on June 5, June 15, and June 28, respectively. The company sold 15 units each on the following dates: June 6, June 18, and June 29. What is the cost of ending inventory using the LIFO cost flow in a perpetual inventory system? $50 $51.25 $55 O $60

3. On June 1, 2020, Company AAA has 10 units of inventory with a unit cost of $5. The company purchased additional 10 units @ $5.5, 15 units @$4, and 20 units @ $6 on June 5, June 15, and June 28, respectively. The company sold 15 units each on the following dates: June 6, June 18, and June 29. What is the cost of ending inventory using the LIFO cost flow in a perpetual inventory system? $50 $51.25 $55 O $60

Name: 3. On June 1, 2020, Company AAA has 10 units of inventory with a unit
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Description: 3. On June 1, 2020, Company AAA has 10 units of inventory with a unit cost of $5. The company purchased additional 10 units @$5.5, 15 units @$4, and 20 units @ $6 on June 5, June 15, and June 28, respectively. The company sold 15 units each on thefo

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 67P

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