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Elly Company uses a periodic inventory system. Details for the inventory account for the month of January 2016 are as follows: Units Per unit
Elly Company uses a periodic inventory system. Details for the inventory account for the month of January 2016 are as follows: Units Per unit price Balance, 1/1/16 242 $6.00 Purchase, 1/15/16 111 $6.25 Purchase, 1/28/16 136 $6.70 An end of the month (1/31/16) inventory showed that 104 units were on hand. If the company uses LIFO, what is the value of the ending inventory?
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Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline Reck, Suzanne Lowensohn, Earl Wilson
17th edition
78025826, 978-1259564239, 1259564231, 978-0078025822
