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Beginning inventory, purchases, and sales data for tennis rackets are as follows: ...

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Accounting

Beginning inventory, purchases, and sales data for tennis rackets are as follows:

April 3 Inventory 11 units @ $16.00
11 Purchase 10 units @ $17.00
14 Sale 12 units
21 Purchase 17 units @ $25.00
25 Sale 11 units

Assuming the business maintains a perpetual inventory system and calculates the cost of goods sold and ending inventory using LIFO.

Select the correct answer.

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