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Given the following data for Hinsdale Enterprises: Sales 100 units @ $15 per unit Beginning inventory 40 units @ 9 per unit Purchases 90 units

Given the following data for Hinsdale Enterprises:

Sales 100 units @ $15 per unit

Beginning inventory 40 units @ 9 per unit

Purchases 90 units @ $10 per unit

What is the gross margin as determined by the LIFO method?

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