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The following units of an inventory item were available for sale during the year: The firm uses the periodic inventory system. During the year, 48

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The following units of an inventory item were available for sale during the year: The firm uses the periodic inventory system. During the year, 48 units of the item were sold. The value of ending inventory using LIFO is a. $1,156 b. $416 c. $740 d. $948

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