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The Following Units of an Inventory Item Were Available for Sale

Question 58

Multiple Choice

The following units of an inventory item were available for sale during the year: The following units of an inventory item were available for sale during the year: The firm uses the periodic inventory system. During the year, 60 units of the item were sold. The value of ending inventory using LIFO is: A) $1,250 B) $1,350 C) $1,375 D) $1,150 The firm uses the periodic inventory system. During the year, 60 units of the item were sold.
The value of ending inventory using LIFO is:


A) $1,250
B) $1,350
C) $1,375
D) $1,150

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