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Required information [ The following information applies to the questions displayed below. ] A company reports the following beginning inventory and two purchases for the
Required information
The following information applies to the questions displayed below.
A company reports the following beginning inventory and two purchases for the month of January. On January the
company sells units. Ending inventory at January totals units.
Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based
on the LIFO method.
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