ABC Co. uses a perpetual inventory system and uses the LIFO cost flow assumption. Calculate the dollar value of its cost of goods sold for the sale made on Jan. 10.   Jan 1 Beginning Inventory 8 @ $12= $96 Jan 5 Purchase 12 @ $15= $180 Jan 10 Sale 11 units x $50 each   Multiple choice question. $141 $198 $550 $165

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