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Find what the value of ending inventory using lifo is

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Reference no: EM133010552

The following units of an inventory item were available for sale during the year:

                                   Unit                Unit Cost
Beginning inventory           14                    $55
First purchase                  28                        60
Second purchase              33                       65
Third purchase                 16                           70

Problem 1: The firm uses the periodic inventory system. During the year, 65 units of the item were sold. The value of ending inventory using LIFO is

Reference no: EM133010552

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