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Determine the ending inventory using the lifo method

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Question - During its first year of operations, Wildcat Corporation made the following purchases (listed in chronological order of acquisition):

43 units at $98 per unit

73 units at $85 per unit

172 units at $69 per unit

Sales for the year totaled 274 units, leaving 14 units on hand at the end of the year.

The company uses the periodic inventory system.

Required - Determine the ending inventory using the LIFO method?

Reference no: EM133096331

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