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Use the following information for the month of May: Assuming that a perpetual inventory system is used, what is ending inventory on a LIFO basis?

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Use the following information for the month of May: Assuming that a perpetual inventory system is used, what is ending inventory on a LIFO basis? Select one: a. $850 b. $830 c. $880 d. $800 e. $780 Given the following data, how would taxable income change if periodic LIFO is used rather than periodic FIFO

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