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P.Didee has the following inventory information: January 1 Beginning Inventory 20 units at $90 January 5 Purchases 120 units at $92 January 14 Sale 90
P.Didee has the following inventory information:
January 1 | Beginning Inventory | 20 units at $90 |
January 5 | Purchases | 120 units at $92 |
January 14 | Sale | 90 Units |
January 21 | Purchases | 60 Units at $95 |
January 30 | Sale | 58 Units |
Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis?
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