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Sampson, Inc. had a beginning inventory of 10,000 units on January 1, 2009. The costs associated were :
Material $15.00 per unitLabor $5.00 per unitOverhead $10.00 per unit
During 2009, Sampson produced 36,000 units with the following costs:
Material $16.00 per unitLabor $6.00 per unitOverhead $11.00 per unit
Sales for the year were 38,000 units at $40.00 each. Samspon uses LIFO accounting. What is the gross profit, and the value of ending inventory?
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The amount of interest paid in the 3rd installment is a; the amount of interest paid in the 17th installment is b. Find the expression for the interest paid in the 24th installment.
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