What is the cost of the 35 units on hand at the end

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Reference no: EM133492509

Case: The following units of a particular item were purchased and sold during the period:

Beginning inventory 40 units at $20

First purchase 50 units at $21

Second purchase 50 units at $22

First sale 110 units

Third purchase 50 units at $23

Second sale 45 units

Question 1: What is the cost of the 35 units on hand at the end of the period as determined under the perpetual inventory system by the LIFO costing method?

Reference no: EM133492509

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