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The following units of an inventory item were available for sale during the year: ...

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Accounting

The following units of an inventory item were available for sale during the year:

Beginning inventory 8 units at $52
First purchase 15 units at $54
Second purchase 20 units at $59
Third purchase 13 units at $61

The firm uses the periodic inventory system. During the year, 37 units of the item were sold.

The value of ending inventory using LIFO is

a.$1,218

b.$1,426

c.$1,010

d.$416

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