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Question - Glasgow Enterprises started the period with 70 units in beginning inventory that cost $2.30 each. During the period, the company purchased inventory items as follows:
Purchase
Number of Items
Cost
1
240
$2.80
2
170
$2.90
3
50
$3.30
Glasgow sold 260 units after purchase 3 for $9.00 each.
Required - What is Glasgow's ending inventory under LIFO?
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