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Business, 03.12.2020 20:10 mitch729

Piper Pipes has the following inventory data: July 1 Beginning inventory 20 units at $120 5 Purchases 120 units at $112 14 Sale 80 units 21 Purchases 60 units at $115 30 Sale 56 units Assuming that a periodic inventory system is used, what is the cost of goods sold on a LIFO basis? a. $15,392.
b. $15,412.
c. $7,328.
d. $7,348.

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