Question: Rally Wheels, Inc. had the following balances and transactions during 2018:
Beginning Merchandise Inventory as of January 1, 2018: 240 units at $73
March 10 60 units sold
June 10 Purchased 960 units at $78
October 30 Sold 175 units
Required: What would the company's ending merchandise inventory cost be on December 31, 2018 if the perpetual inventory system and the last-in, first -out inventory costing method are used?
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