Item28

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Item 28

TB EX Qu. 6-204 During 2021, a company sells...

During 2021, a company sells 22 units of inventory. The company has the following inventory purchase transactions for 2021:

Date		Transaction	Number of Units			Unit Cost			Total Cost
Jan.	1	Beginning inventory		16		$	53			$	848
Sep.	8	Purchase		11			55				605
				27						$	1,453

Calculate ending inventory and cost of goods sold for 2021 assuming the company uses LIFO.