The inventory data for an item for November are: Nov.  1…

The inventory data for an item for November are: Nov.  1 Inventory 20 units at $19          4 Sold 10 units        10 Purchased 30 units at $20        17 Sold 20 units        30 Purchased 10 units at $21 Using a perpetual system, what is the cost of the goods sold for November if the company uses FIFO?

Addison, Inc. uses a perpetual inventory system.  Below is i…

Addison, Inc. uses a perpetual inventory system.  Below is information about one inventory item for the month of September. Use this information to answer the questions that follow. Sep.  1 Inventory 20 units at $20          4 Sold 10 units        10 Purchased 30 units at $25        17 Sold 20 units        30 Purchased 10 units at $30 ​If Addison uses LIFO, the September 30 inventory balance is