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Inventory Valuation under LIFO: Calculate the value of ending inventory using the LIFO (Last-In-First-Out) method for General Motors Company, given the following data: Beginning Inventory:
Inventory Valuation under LIFO: Calculate the value of ending inventory using the LIFO (Last-In-First-Out) method for General Motors Company, given the following data:
- Beginning Inventory: 5,000 units at $10 per unit
- Purchases: 3,000 units at $12 per unit
- Sales: 7,000 units
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Financial Accounting
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
2nd Edition
0078110823, 9780078110825
