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The following units of an inventory item were available for sale during the year: Beginning inventory First purchase Second purchase Third purchase 8 units at

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The following units of an inventory item were available for sale during the year: Beginning inventory First purchase Second purchase Third purchase 8 units at $48 18 units at $54 25 units at $56 15 units at $60 The firm uses the periodic inventory system. During the year, 51 units of the item were sold. The value of ending inventory using LIFO is a. $954 b. $384 c. $1,146 d. $762

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