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Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows:
On 14 January, Beech Soda, Inc. sold 25 units of this product. The other 28 units remained in inventory at 31 January.
-Assuming that Beech Soda uses the LIFO flow assumption, the cost of goods sold to be recorded at 14 January is:
Law Of Agency
A legal doctrine concerning the relationship between the agent and the principal, where the agent is authorized to act on behalf of the principal.
Quasi-Contract
A legal concept where the courts impose contractual obligations on parties not in an actual contract to prevent unjust enrichment.
Law Of Equity
A system of law that supplements the statutory and common laws, aiming to achieve fairness and justice in cases where strict application of the law might result in an inequitable outcome.
Real Estate Agent
A certified individual who acts on behalf of sellers or buyers in property sales.
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