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Given the following data, what is the gross profit as determined under the LIFO (perpetual) method? Sales Revenue 100 units at $15 per unit Beginning

Given the following data, what is the gross profit as determined under the LIFO (perpetual) method?

Sales Revenue 100 units at $15 per unit

Beginning inventory 40 units at $9 per unit

Purchases 80 units at $10 per unit

A $500
B $520
C $540
D $600

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