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Venus Wholesale Co. started carrying a new product in December. Purchases and sales of this product during the month were: Dec. 20 Purchased 110 units
Venus Wholesale Co. started carrying a new product in December. Purchases and sales of this product during the month were: Dec. 20 Purchased 110 units at $81 per unit. Dec. 26 Sold 100 units. Dec. 28 Purchased 110 units at $90 per unit. 5. Assuming the LIFO flow assumption is in use, the perpetual inventory records will indicate an ending inventory of this product of: $8,910. $10,710. $10,910. $9,810
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