7) A company had 10,000 units of merchandise in inventory on January 1, 2021 at a LIFO cost as follows: Base year 2019 layer. 2020 layer. Total Units X 6,000 x 2,500 x 1,500 x 10,000 A) $14,000 B) $18,000 C) $24,000 D) $28,000 E) $35,000 CPU $20 = $22 = $24 E Cost $120,000 55,000 36,000 $ 211,000 During the year ended December 31, 2021, the company purchased 60,000 units of inventory at a cost of $28 per unit and sold 63,500 units at a price of $38. Ignoring income tales, the LIFO liquidation profit realized during the year ended December 31, 2021 was:

7) A company had 10,000 units of merchandise in inventory on January 1, 2021 at a LIFO cost as follows: During the year ended December 31,2021, the company purchased 60,000 units of inventory at a cost of $28 per unit and sold 63,500 units at a price of $38. Ignoring income tases, the LIFO liquidation profit realized during the year ended December 31, 2021 was: A) $14,000 B) $18,000 C) $24,000 D) $28,000 E) $35,000 7) A company had 10,000 units of merchandise in inventory on January 1, 2021 at a LIFO cost as follows: During the year ended December 31,2021, the company purchased 60,000 units of inventory at a cost of $28 per unit and sold 63,500 units at a price of $38. Ignoring income tases, the LIFO liquidation profit realized during the year ended December 31, 2021 was: A) $14,000 B) $18,000 C) $24,000 D) $28,000 E) $35,000