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Rising Tide Company uses LIFO to account for its inventory. Rising Tide has 5 units in inventory at the beginning of the year, all valued
Rising Tide Company uses LIFO to account for its inventory. Rising Tide has 5 units in inventory at the beginning of the year, all valued at $15 per unit. During the year, Rising Tide buys 4 units, paying $20 per unit, and sells 6 units with a sales price of $30 per unit. What is the value of Rising Tide's ending inventory for the year?
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