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Given the following data, what is the gross profit as determined by the LIFO method? Sales revenue 300 units at $15 per unit Purchases 260

Given the following data, what is the gross profit as determined by the LIFO method? Sales revenue 300 units at $15 per unit Purchases 260 units at $10 per unit Beginning 320 units at $9 per unit inventory Multiple Choice $2,880 $1,600 $1,520 $1,540

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