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A company purchased 200 units for $20 each on January 31. It purchased 200 units for $30 on February 28, It sold a total of
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A company purchased 200 units for $20 each on January 31. It purchased 200 units for $30 on February 28, It sold a total of 260 units for $100each from March 1 through December 31.If the company uses the last-in, first-out (LIFO) inventory costing method, calculate the amount of ending inventory on December 31. (Assume the company uses a perpetual inventory system)
A company purchased 200 units for $20 each on January 31. It purchased 200 units for $30 on February 28, It sold a total of 260 units for $100each from March 1 through December 31.If the company uses the last-in, first-out (LIFO) inventory costing method, calculate the amount of ending inventory on December 31. (Assume the company uses a perpetual inventory system)
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