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The lifo inventory method the value of the ending inventory

Atom Company just began business and made the following four inventory purchases in June: June 1 150 units $825 June 10 200 units $1,120 June 15 200 units $1,140 June 28 150 units $885 Total: $3970 A physical count of merchandise inventory on June 30 reveals that there are 250 units on hand.

Using the LIFO inventory method, the value of the ending inventory on June 30 is Answer $1,385. $1,425. $1,455. $1,475.

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Accounting Basics: The lifo inventory method the value of the ending inventory

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