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Lam Inc had the following inventory records: Date Transaction Number of Units Unit Cost Mar. 1 Beginning Inventory 1,000 $ 6.50 Mar. 10 Purchase 600
Lam Inc had the following inventory records:
Date | Transaction | Number of Units | Unit Cost | |||
Mar. | 1 | Beginning Inventory | 1,000 | $ | 6.50 | |
Mar. | 10 | Purchase | 600 | 6.60 | ||
Mar. | 16 | Purchase | 800 | 6.70 | ||
Mar. | 23 | Purchase | 600 | 6.80 |
Lam sold 2,500 units of inventory during the month. Ending Inventory assuming LIFO would be:
Group of answer choices
$3,400
$3,250
$16,650
None of the above
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