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Inventory Costing Methods-Periodic Method The Lippert Company uses the periodic inventory system. The following July...

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Accounting

Inventory Costing Methods-Periodic Method The Lippert Company uses the periodic inventory system. The following July data are for an item in Lippert's inventory: July 1 Beginning inventory 47 units @ $80 per unit 10 Purchased 67 units @ $90 per unit 15 Sold 77 units @ 26 Purchased 42 units @ $100 per unit

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