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Melbourne Company uses the perpetual inventory system and LIFO cost flow method. Melbourne purchased 2,500 units of inventory that cost $17.00 each. At a later
Melbourne Company uses the perpetual inventory system and LIFO cost flow method. Melbourne purchased 2,500 units of inventory that cost $17.00 each. At a later date, the company purchased an additional 2,600 units of inventory that cost $17.50 each. If the company sells 2,800 units of inventory, what amount of ending inventory will appear on a balance sheet prepared immediately after the sale?
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