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JJ Enterprises Began the Year with 480 Units of One

Question 56

Multiple Choice

JJ Enterprises began the year with 480 units of one of its most popular products.During the year JJ purchased 1,000 units and sold 1,100 units for $500 each.What is the pre-tax effect of JJ's LIFO liquidation? JJ Enterprises began the year with 480 units of one of its most popular products.During the year JJ purchased 1,000 units and sold 1,100 units for $500 each.What is the pre-tax effect of JJ's LIFO liquidation? A) $38,400 B) $9,600 C) $4,800 D) $11,600


A) $38,400
B) $9,600
C) $4,800
D) $11,600

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