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A company had the following purchases and sales during its first year of operations: PurchasesSalesJanuary:10 units at $1557 unitsFebruary:20 units at $1605 unitsMay:15 units at
A company had the following purchases and sales during its first year of operations:
PurchasesSalesJanuary:10 units at $1557 unitsFebruary:20 units at $1605 unitsMay:15 units at $1659 unitsSeptember:12 units at $1708 unitsNovember:10 units at $17511 units
On December 31, there were 27 units remaining in ending inventory. Using theperpetualLIFO inventory costing method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)
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