Sarasota Appliance uses a perpetual inventory system

Accounting Oct 12, 2020

Sarasota Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 5 sets at $655 each. On January 10, Sarasota purchased 8 units at $755 each. The company sold 2 units on January 8 and 4 units on January 15.

Compute the ending inventory under LIFO method.

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