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Katie Malls has the following inventory transactions for the year: Date Jan. 1 Apr. 8 Transaction Beginning inventory Purchase Numbers of Units 20 50 Unit

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Katie Malls has the following inventory transactions for the year: Date Jan. 1 Apr. 8 Transaction Beginning inventory Purchase Numbers of Units 20 50 Unit Cost $ 35 40 Total Cost $ 700 2,000 $2,700 Jan. 1 - Dec. 31 Total sales to customers 60 What amount would Madison report for cost of goods sold using LIFO under a periodic inventory system

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