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Perry's Phones has the following inventory data: June 1 Beginning inventory 50 units at $120 each June 5 Purchases 300 units at $112 each June
Perry's Phones has the following inventory data: June 1 Beginning inventory 50 units at $120 each June 5 Purchases 300 units at $112 each June 21 Purchases 150 units at $115 each Assuming that a periodic inventory system is used and there are 210 units in ending inventory, what is the amount allocated to ending inventory on a LIFO basis
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