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The Bisset Corporation Uses Raw Material a in a Manufacturing

Question 27

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The Bisset Corporation uses Raw Material A in a manufacturing process.Information as to balances on hand,purchases,and requisitions of Raw Material A is given in the following table. Raw Material A The Bisset Corporation uses Raw Material A in a manufacturing process.Information as to balances on hand,purchases,and requisitions of Raw Material A is given in the following table. Raw Material A   If a perpetual inventory record of Raw Material A is maintained on a LIFO basis,the September 6 issue will consist of: A) 80 units @ $1.55,20 units @ $1.62 and 10 units @ $1.40. B) 110 units @ $1.55. C) 50 units @1.55 and 60 units @ 1.62. D) 20 units @ $1.62 and 90 units @ $1.55. If a perpetual inventory record of Raw Material A is maintained on a LIFO basis,the September 6 issue will consist of:


A) 80 units @ $1.55,20 units @ $1.62 and 10 units @ $1.40.
B) 110 units @ $1.55.
C) 50 units @1.55 and 60 units @ 1.62.
D) 20 units @ $1.62 and 90 units @ $1.55.

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