Novak has the following inventory data: July 1 Beginning inventory 49 units at $24 $1176 7 Purchases 171 units at $26 4446 22 Purchases 24 units at $27 648 $6270 A physical count of merchandise inventory on July 30 reveals that there are 61 units on hand. Using the LIFO inventory method, the amount allocated to ending inventory for July is
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Novak has the following inventory data: July 1 Beginning inventory 49 units at $24 $1176 7 Purchases...
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