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Sales During the Year Were 500 Units

Question 58

Multiple Choice

Sales during the year were 500 units.Beginning inventory was 250 units at a cost of $5 per unit.Purchase 1 was 400 units at $6 per unit.Purchase 2 was 200 units at $7 per unit. Ending inventory under the LIFO cost flow assumption (using a periodic inventory system) was:


A) $1,250.
B) $1,850.
C) $2,300.
D) $3,200.

Correct Answer:

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