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16) SBA Inc uses wood (raw material) for its production line #2. Its beginning inventory on January 1st, 2020, Is 300 units purchased at $200,
16) SBA Inc uses wood (raw material) for its production line #2. Its beginning inventory on January 1st, 2020, Is 300 units purchased at $200, SBA Inc. has purchased during 2020 the following items: February 1st: 450 units at $150 per unit July 1st: 190 units at $175 per unit December 1st: 135 units at $200 per unit SBA Inc has sold during 2020 the following items: April 1: 275 units October 1: 500 units Required: Using the LIFO method, what will be the total amount of Ending Inventory on July 1st, 2020. (Select 1) 1825pts) $105,750 $55,875 $119,500 560,000
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
