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LIFO Liquidation Profit Hammond Company adopted LIFO when it was formed on January 1 , 2 0 1 7 . Since then, the company has

LIFO Liquidation Profit
Hammond Company adopted LIFO when it was formed on January 1,2017. Since then, the company has had the following purchases and sales of its single inventory item:
\table[[Year,Units Purchased,Cost per Unit,Units Sold,Price per Unit],[2017,10,000,$4,8,000,$10
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