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QUESTION
Pappy's Staff Junkets has the following inventory information.
Pappy's Staff Junkets has the following inventory information.July1 Beginning Inventory10 units at $90 5 Purchases60 units at $92 14 Sale40 units 21 Purchases30 units at $95 30 Sale28 unitsAssuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis?
