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What is the cost of the ending inventory

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Reference no: EM132428881

Question - A company had the following purchases and sales during its first year of operations:

 

Purchases

Sales

January:

10 units at $155

7 units

February:

20 units at $160

5 units

May:

15 units at $165

9 units

September:

12 units at $170

8 units

November:

10 units at $175

11 units

On December 31, there were 27 units remaining in ending inventory. Using the Perpetual LIFO inventory valuation method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)

Reference no: EM132428881

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