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A company had inventory of 8 units at a cost of $12 each on December 1. On December 2, they purchased 8 units at $21 each. On December 6 they purchased 7 units at $23 each. On December 8, they sold 18 units for $52 each. Using the LIFO perpetual inventory method, what was the cost of the 18 units sold?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M958771

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