During 2012, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2012: Calculate ending inventory and cost of goods sold for 2012 assuming the company uses LIFO with a periodic inventory system.

Question

During 2012, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2012:  Calculate ending inventory and cost of goods sold for 2012 assuming the company uses LIFO with a periodic inventory system.

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During 2012, a Company Sells 20 Units of Inventory