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View Policies Current Attempt in Progress Lily Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3

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View Policies Current Attempt in Progress Lily Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $620 each. On January 10, Lily purchased 6 units at $690 each. The company sold 2 units on January 8 and 5 units on January 15.

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