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Purchases and Sales During a Recent Period for Lantern,Inc

Question 72

Multiple Choice

Purchases and sales during a recent period for Lantern,Inc.were:
Purchases and sales during a recent period for Lantern,Inc.were: Beginning inventory was 100 units at $1 each. -See information for Lantern,Inc.above.Given this information,what is the ending inventory if the periodic FIFO costing alternative is used? A) $400 B) $500 C) $1,250 D) $3,100 Beginning inventory was 100 units at $1 each.
-See information for Lantern,Inc.above.Given this information,what is the ending inventory if the periodic FIFO costing alternative is used?


A) $400
B) $500
C) $1,250
D) $3,100

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