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Jackson Corporation utilizes a perpetual inventory system and costs inventory based on the LIFO method. As of September 1, 2017, Jackson's financial records reflect beginning
Jackson Corporation utilizes a perpetual inventory system and costs inventory based on the LIFO method. As of September 1, 2017, Jackson's financial records reflect beginning inventory of 10,000 units purchased for $2.50 per unit. On September 6, Jackson purchases 8,000 units at $3.00 per unit On September 17, Jackson sells 16,000 units On September 22, Jackson sells 1,500 units On September 28, Jackson purchases 12,000 units @ $2.00 per unit What is the value of ending inventory as of September 30, 2017? You must include all calculations.
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