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The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Derzon, Inc. for an operating period.
| | Units | Unit Cost | Total Cost | Units Sold |
| Beginning Inventory | 30 | $28 | $ 840 | |
| Sale No. 1 | | | | 20 |
| Purchase No. 1 | 50 | 40 | 2,000 | |
| Sale No. 2 | | | | 40 |
| Purchase No. 2 | 20 | 44 | 880 | __ |
| Totals | 100 | | $3,720 | 60 |
Assuming Derzon, Inc. uses LIFO periodic inventory procedures, the ending inventory cost is:
Select one:
A. $1,760
B. $1,120
C. $1,680
D. $1,240
Answer & Explanation
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