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A firm that sells a single product had a beginning inventory of 4,000 units with a total cost of $16,000 Early in the year, 8,000 units were purchased at $6 each. Using LIFO, what is the value of the ending inventory of 2,000 units?

A) $12,000

B) $10,000

C) $8,000

D) $24,000

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M940304

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