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Melbourne Company uses the perpetual inventory method. Melbourne purchased 1,300 units of inventory that cost $8.00 each. At a later date the company purchased an
Melbourne Company uses the perpetual inventory method. Melbourne purchased 1,300 units of inventory that cost $8.00 each. At a later date the company purchased an additional 1,400 units of inventory that cost $8.50 each. If Melbourne uses a LIFO cost flow method, and sells 1,600 units of inventory, the amount of ending inventory appearing on the balance sheet will be: |
$13,500.$9,075.$8,800.$9,350.
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