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Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning Inventory 160 units @ $ 7 = $1,120 Jan. 10 Sales 120

Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning Inventory 160 units @ $ 7 = $1,120 Jan. 10 Sales 120 units @ $ 15 Jan. 20 Purchase 320 units @ $ 6 = 1,920 Jan. 25 Sales 270 units @ $ 15 Jan. 30 Purchase 120 units @ $ 5 = 600 Totals 600 units $3,640 390 units Liberty uses a periodic inventory system. Ending inventory consists of 210 units, 105 from the January 30 purchase, 84 from the January 20 purchase, and 21 from beginning inventory. What is fifo and lifo ending inventory?

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