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Suppose that Sierra Trading Post has the following inventory data: The company uses a periodic inventory system. A physical count of merchandise inventory on July

Suppose that Sierra Trading Post has the following inventory data: The company uses a periodic inventory system. A physical count of merchandise inventory on July 31 reveals that there are 50 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is $3,170. $3,110. $3,010. $3,080

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