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Use the Following Inventory Information for the Month of July

Question 36

Multiple Choice

Use the following inventory information for the month of July to answer questions :
Use the following inventory information for the month of July to answer questions : A physical count of inventory on July 30 reveals that there are 35 units on hand. -Using the LIFO inventory method, the amount allocated to cost of sales for July is: A) $680. B) $720. C) $1,280. D) $1,320. A physical count of inventory on July 30 reveals that there are 35 units on hand.
-Using the LIFO inventory method, the amount allocated to cost of sales for July is:


A) $680.
B) $720.
C) $1,280.
D) $1,320.

Correct Answer:

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