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This question has one part. Part 1 Given the below information, what is the dollar amount that the LIFO liquidation added to gross margin ?

This question has one part.

Part 1

Given the below information, what is the dollar amount that the LIFO liquidation added to gross margin?

Number of Units Price per Unit
Beginning Inventory 10 $1
Purchases 12 $3
Sales 15
Ending Inventory 7

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