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Use the following information to answer questions (Round to 2 decimal places): The following Information has been extracted from the records of Due North Sales (DNS) Co.: January 1 January 9 January 15 January 25 Beginning Inventory Bought Sold Bought Multiple Choice If Due North Sales (DNS) uses the LIFO cost flow assumption, under a perpetual method, the cost of goods sold for January, is: $33,804 $32,748 $33,200 $35,100 550 units @ $26 each 1,000 units @ $28 each 1,200 units @ $40 each 750 units @ $30 each. None of the other alternatives are correct

Use the following information to answer questions (Round to 2 decimal places): The following Information has been extracted from the records of Due North Sales (DNS) Co.: January 1 January 9 January 15 January 25 Beginning Inventory Bought Sold Bought Multiple Choice If Due North Sales (DNS) uses the LIFO cost flow assumption, under a perpetual method, the cost of goods sold for January, is: $33,804 $32,748 $33,200 $35,100 550 units @ $26 each 1,000 units @ $28 each 1,200 units @ $40 each 750 units @ $30 each. None of the other alternatives are correct

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Use the following information to answer questions (Round to 2 decimal places): The following Information has been extracted from the records of Due North Sales (DNS) Co.: January 1 January 9 January 15 January 25 Beginning Inventory Bought Sold Bought Multiple Choice If Due North Sales (DNS) uses the LIFO cost flow assumption, under a perpetual method, the cost of goods sold for January, is: $33,804 $32,748 $33,200 $35.100 550 units @ $26 each 1,000 units @ $28 each 1,200 units @ $40 each 750 units @ $30 each. None of the other alternatives are correct
Transcribed Image Text:Use the following information to answer questions (Round to 2 decimal places): The following Information has been extracted from the records of Due North Sales (DNS) Co.: January 1 January 9 January 15 January 25 Beginning Inventory Bought Sold Bought Multiple Choice If Due North Sales (DNS) uses the LIFO cost flow assumption, under a perpetual method, the cost of goods sold for January, is: $33,804 $32,748 $33,200 $35.100 550 units @ $26 each 1,000 units @ $28 each 1,200 units @ $40 each 750 units @ $30 each. None of the other alternatives are correct
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