Metlock has the following inventory data: July 1 Beginning inventory 27 units at $5.40 5 Purchases 108 units at $5.90 14 Sale 72 units 21 Purchases 54 units at $6.50 30 Sale 50 units Assuming that a perpetual inventory system is used, what is the cost of goods sold on a LIFO basis for July

The basic difference between macroeconomics and microeconomics is that: a. microeconomics looks at the forest (aggregate markets) while macroeconomics looks at the trees (individual markets). b. macroeconomics is concerned with groups of individuals while microeconomics is concerned with single countries. c. microeconomics is concerned with the trees (individual markets) while macroeconomics is concerned with the forest (aggregate markets). d. macroeconomics is concerned with generalization while microeconomics is concerned with specialization.