Inventory records for Capetown, Incorporated revealed the following: Date April 1 April 20 Transaction Beginning Inventory Purchase Number of Units 460 330 Unit Cost $2.33 2.50 Capetown sold 690 units of inventory during the month. Cost of goods sold assuming LIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)

Inventory records for Capetown, Incorporated revealed the following: Date April 1 April 20 Transaction Beginning Inventory Purchase Number of Units 460 330 Unit Cost $2.33 2.50 Capetown sold 690 units of inventory during the month. Cost of goods sold assuming LIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 67P

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