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Ending Inventory &COGS using dollar-value LIFO retail method

Calculate ending inventory and cost of goods sold using the dollar-value LIFO retail method. I have a Net Sales to customers of $650,000, Sales to employees (net of 30% discount) of $14,000. What do I have to do to get the actual net sales?

Solution Summary

The solution computes ending inventory and cost of goods sold using the dollar-value LIFO retail method.

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