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Determine the inventory cost using the LIFO

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Question - The units of an item available for sale during the year were as follows:

Jan 1 Inventory 19 units at 124

April 15 Purchase 136 units at 115

 September 9 Purchase 21 units at 125

There are 51 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the last-in, first-out (LIFO).

Reference no: EM132986957

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