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The table below is extracted from the inventory records for the month of august of lamp, Inc. a company which makes custom lamps. quantity price

The table below is extracted from the inventory records for the month of august of lamp, Inc. a company which makes custom lamps.

quantity

price per lamp

total

beginning inventory

110 lamps

$6

660

aug 7 purchase

130 lamps

$7

910

Aug 11 sales

220 lamps

N/A

aug 17 purchase

125 lamps

$6.50

819

Aug 23 sales

94 lamps

N/A

aug 28 purchase

34 lamps

$7.50

255

Using the information above, perpetual LIFO ending inventory is

  1. $583
  2. $2,128
  3. $2,061
  4. $593

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