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Q. Given the below information, what is the dollar amount that the LIFO liquidation added to gross margin?
Number of Units
Price per Unit
Beginning inventory
10
1
Purchases
12
3
Sales
15
Ending inventory
7
Cal Farms reported a supplies expense of $2,000,000 a year. The supplies amount decreased by 200,000 during the year to an ending balance of $400,000. What was the cost of supplies
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