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The following information relates to inventory for Shoeless Joe Inc. Date Quantity Price March 1 Beg. inventory 20 $2 March 7 Purchase 15 3 March

The following information relates to inventory for Shoeless Joe Inc.

Date Quantity Price

March 1 Beg. inventory 20 $2

March 7 Purchase 15 3

March 11 Sale 25 7

March 12 Purchase 20 4

At what amount would Shoeless report gross profit using LIFO cost flow assumptions?

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