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Lois's Furniture Uses a Periodic Inventory System

Question 122

Multiple Choice

Lois's Furniture uses a periodic inventory system. Lois sold 60 tables during August. Other data for August include: Lois's Furniture uses a periodic inventory system. Lois sold 60 tables during August. Other data for August include: Cost of Goods Sold under the LIFO method is: A) $11,380. B) $280. C) $11,240. D) $420. Cost of Goods Sold under the LIFO method is:


A) $11,380.
B) $280.
C) $11,240.
D) $420.

Correct Answer:

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