Assume HPC, Inc., began December with 60 units of inventory that cost a total of $720. During
Question:
Assume HPC, Inc., began December with 60 units of inventory that cost a total of $720. During December, HPC, Inc., purchased and sold goods as follows:
HPC, Inc., uses perpetual inventory. Under the LIFO inventory method, how much is HPC’s cost of inventory on hand after the sale on December 30?
a. $645
b. $750
C. $600
d. $650
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