Vaughn has the following inventory data:
July 1 | Beginning inventory | 31 units at $61 | ||
5 | Purchases | 184 units at $57 | ||
14 | Sale | 122 units | ||
21 | Purchases | 92 units at $59 | ||
30 | Sale | 86 units |
Assuming that a perpetual inventory system is used, what is the
ending inventory on a LIFO basis for July?
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