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March 1, 2021, inventory: 1,450 gallons @ $8.10 per gallon = $11,745 Purchases: Sales: Mar. 10 690 gals @ $8.15 Mar. 5 490 gals Mar.
March 1, 2021, inventory: 1,450 gallons @ $8.10 per gallon = $11,745 Purchases: Sales: Mar. 10 690 gals @ $8.15 Mar. 5 490 gals Mar. 16 Mar. 23 890 gals @$8.20 Mar. 14 790 gals 690 gals @$8.25 Mar. 20 590 gals Mar. 26 790 gals Ending inventory assuming LIFO in a periodic inventory system would be: Multiple Choice $8,586
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Principles Of Financial And Managerial Accounting
Authors: James Don Edwards, Roger H. Hermanson
1st Edition
0256130000, 978-0256130003
