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FFS Clothing Store sells socks. During January 2017, its inventory records for one particular brand of socks were as follows:

FFS Clothing Store sells socks. During January 2017, its inventory records for one particular brand of socks were as follows:


          Quantity Price per pair Total

Beginning Inventory 16 pairs $18 = $288

January 6 Purchase 13 pairs $16 = $208

January 10 Sale    15 pairs N/A 

January 15 Purchase 18 pairs $15 = $270

January 20 Sale     22 pairs N/A

January 25 Purchase  14 pairs $22 = $308


What is the perpetual LIFO remaining inventory?

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EEnding inventory under LIFO... View the full answer

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The remaining inventory is determined by the difference between the total finished goods... View the full answer

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