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J.Q. Adams Co. had beginning inventory of 50 units with a total cost of $1,000. During the period. J.Q. Adams first purchased 20 units for $800 and then 30 units for $1,800. The company uses the LIFO method of costing inventory. If a phyical count of ending inventory showed 45 units, at what amount would they be valued on the balance sheet?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9985963

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