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Inventory records for Herb's Chemicals revealed the following: March 1, 2021, Inventory: 2,000 gallons @ $9.20 per gallon = $18,400 Purchases: Mar. 10 Mar. 16
Inventory records for Herb's Chemicals revealed the following: March 1, 2021, Inventory: 2,000 gallons @ $9.20 per gallon = $18,400 Purchases: Mar. 10 Mar. 16 Mar. 23 800 gals @ $9.25 1,000 gals @ $9.30 800 gals @ $9.35 Sales: Mar. 5 Mar. 14 Mar. 20 Mar. 26 600 gals 900 gals 700 gals 900 gals Ending Inventory assuming LIFO in a periodic inventory system would be: Multiple Choice $13,800 513,815 $13.875 $13,935
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Financial and Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
12th edition
978-1133952428, 1285078578, 1133952429, 978-1285078571
