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Using the LIFO method, what is the value of ending inventory on March 31? ABC Corporation has the following inventory information for March, 2019: Units
Using the LIFO method, what is the value of ending inventory on March 31?
ABC Corporation has the following inventory information for March, 2019: Units $ Unit cost $ Total Cost Beg. Inv. 2,400 10.50 25,200 Purchase 1 3,800 10.75 40,850 Purchase 2 1,900 11.00 20,900 Purchase 3 11.25 2,300 10,400 25,875 Total 112,825 On March 31, ABC has 2,500 units in ending inventory. Using the periodic LIFO (last-in, first-out a. $28,125 O b. $28,075 O c. $26,250 d. $26,275 Step by Step Solution
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