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The Shinra Corporation purchased two identical inventory items. The first purchase cost $50 and the second cost $54. When the Company sold one of
The Shinra Corporation purchased two identical inventory items. The first purchase cost $50 and the second cost $54. When the Company sold one of the items for $80, it expensed $54 to its cost of goods sold account. Assuming the company uses LIFO, what's the balance in the ending inventory account? 54 52 50 000 0
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