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Question - A company had the following purchases during the current year:
January:
10 units at $120
February:
20 units at $125
May:
15 units at $130
September:
12 units at $135
November:
10 units at $140
On December 31, there were 26 units remaining in ending inventory. Using the LIFO inventory valuation method, what is the cost of the ending inventory?
$3,280.
$3,200.
$3,445.
$3,540.
$3,640.
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