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Find the value of ending inventory using LIFO

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Reference no: EM133063894

Question - The following units of an inventory item were available for sale during the year:

 

Unit

Unit Cost

Beginning inventory

15

$55

First purchase

30

60

Second purchase

33

65

Third purchase

18

70

The firm uses the periodic inventory system. During the year, 65 units of the item were sold.

Find the value of ending inventory using LIFO?

Reference no: EM133063894

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