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Glasgow Enterprises started the period with 60 units in beginning inventory that cost $1.70 each....

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Accounting

Glasgow Enterprises started the period with 60 units in beginning inventory that cost $1.70 each. During the period, the company purchased inventory items as follows. Glasgow sold 255 units after purchase 3 for $10.00 each.

Purchase No. of Items Cost
1 380 $ 2.20
2 110 $ 2.30
3 50 $ 2.70

Glasgow's ending inventory under LIFO would be:

Multiple Choice

  • $729.

  • $932.

  • $794.

  • $587.

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