Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO? Nov. 01 Inventory 21 units at $24.00 Nov. 04 Sold 11 units Nov. 10 Purchased 34 units at $22.00 Nov. 17 Sold 15 units Nov. 30 Purchased 24 units at $20.00 Using the perpetual LIFO system, what is the cost of the merchandise sold for November? Select the correct answer. a-$1,118.00 b-$614.00 c-$594.00 d-$834.00

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Using a perpetual system, what is the cost of the goods sold for November if the company uses LIFO?

Nov. 01 Inventory 21 units at $24.00
Nov. 04 Sold 11 units
Nov. 10 Purchased 34 units at $22.00
Nov. 17 Sold 15 units
Nov. 30 Purchased 24 units at $20.00

Using the perpetual LIFO system, what is the cost of the merchandise sold for November?

Select the correct answer.

a-$1,118.00
b-$614.00
c-$594.00
d-$834.00
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