Choco Inc. uses a perpetual inventory system.
If Choco Inc. uses the LIFO method, how much is the cost
of goods sold (COGS) for September?
9/1 Beginning inventory
300units @ $7.7
9/5 Sales (price $20/unit) 150units
9/15 Purchase 500units @ $11.3
9/22 Sales (price
$20/unit) 400units
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