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AbCo begins operations in 20X0, uses the periodic method and LIFO costing, and purchases merchandise as follows: Month 20X0 20X1 20X2 February 150 @ $2.00

AbCo begins operations in 20X0, uses the periodic method and LIFO costing, and purchases merchandise as follows:

Month

20X0

20X1

20X2

February

150 @ $2.00

300 @ $4.00

450 @ $5.50

June

250 @ $2.50

450 @ $6.00

300 @ $7.00

August

100 @ $3.50

50 @ $4.50

350 @ $6.50

December

200 @ $3.00

350 @ $5.00

50 @ $8.00

AbCo's 20X0 ending inventory is 150 units; 20X1 ending inventory, 100 units and 20X2 ending inventory, 350 units. What is AbCo's 20X2 ending inventory?

Select one:

a. $1,500

b. $1,575

c. $1,900

d. $1,975

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