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Texas Petrochemical Reported the Following April Activity for Its VC-30

Question 94

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Texas Petrochemical reported the following April activity for its VC-30 lubricant, which had a balance of 300 qts. @ $2.40 on April 1. Texas Petrochemical reported the following April activity for its VC-30 lubricant, which had a balance of 300 qts. @ $2.40 on April 1. The ending inventory assuming LIFO and a periodic inventory system is: A) $1,580. B) $1,510. C) $1,575. D) $1,470. The ending inventory assuming LIFO and a periodic inventory system is:


A) $1,580.
B) $1,510.
C) $1,575.
D) $1,470.

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