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Company had 690 units of something in its inventory at a cost of $13 each. It purchased 830 more units of something at a cost
Company had 690 units of something in its inventory at a cost of $13 each. It purchased 830 more units of something at a cost of $19 each. Company then sold 1100 units at a selling price of $32 each. The LIFO liquidation overstated normal gross profit by how much?
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