Using LIFO, the cost of goods sold for the sale of 23 units on August 30 is and the inventory balance at August 30 is _.

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21-03-2022
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Using LIFO, the cost of goods sold for the sale of 23 units on August 30 is and the inventory balance at August 30 is _.

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topeadeniran2 topeadeniran2 · Answer 1 · 2022-03-30T11:01:49+02:00

LIFO is an inventory method where the costs for the most recent goods bought are the first to be expensed.

What is LIFO?

Your information is incomplete. Therefore, an overview will be given. LIFO simply means last in, first out.

LIFO is simply a method that is used to account for inventory. Under LIFO, it should be noted that the costs for the most recent goods bought are the first to be expensed.

Learn more about LIFO on:

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Using LIFO, the cost of goods sold for the sale of 23 units on August 30 is ____ and the inventory balance at August 30 is _____.

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What is LIFO?

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Using LIFO, the cost of goods sold for the sale of 23 units on August 30 is and the inventory balance at August 30 is _.