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Compute the ending inventory under LIFO

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Problem - Sheridan Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $430 each. On January 10, Sheridan purchased 6 units at $500 each. The company sold 2 units on January 8 and 5 units on January 15.

Required - Compute the ending inventory under LIFO?

Reference no: EM132825804

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