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Question - Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers:

Date

Transaction

Number of Units

Cost per Unit

1/1

Beginning Inventory

130

$830

5/5

Purchase

230

$930

8/10

Purchase

330

$1,030

10/15

Purchase

215

$1,080

During the year, Lauer sold 825 laptop computers.

What was cost of goods sold using the LIFO cost flow assumption?

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