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The Rock Supply Co. uses the perpetual inventory procedure and the LIFO method of inventory costing. Following are inventory data for 2017. Purchases Sales January
The Rock Supply Co. uses the perpetual inventory procedure and the LIFO method of inventory costing. Following are inventory data for 2017.
Purchases Sales
January 10 600 units at $8.00 March 17 400 units
March 15 800 units at $7.60 October 5 1,300 units
May 18 500 units at $8.20
December 30 600 units at $8.00
If there was no beginning inventory, the cost of the ending inventory is:
$6,400
$7,080
$6,880
$8,030
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