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LIFO Liquidation Profit Hammond Company adopted LIFO when it was formed on January 1 , 2 0 1 4 . Since then, the comp purchases

LIFO Liquidation Profit
Hammond Company adopted LIFO when it was formed on January 1,2014. Since then, the comp purchases and sales of its single inventory item:
\table[[Year,Units Purchased,Cost per Unit,Units Sold,Price per Unit],[2014,10,000,$5,8,000,$15
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