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Pina Colada Corp. just began business and made the following four inventory purchases in June:
June 1 71 units $1026
June 10 228 units 1596
June 15 228 units 1824
June 28 171 units 1539
$5985
Problem 1: A physical count of merchandise inventory on June 30 reveals that there are 228 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is
$1425
$1368
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