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Bizhelp, CPA
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Experience:  Bachelors Degree and CPA with Accounting work experience
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Belle Co. has beginning inventory of 12 sets of paints at a

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Belle Co. has beginning inventory of 12 sets of paints at a cost of $1.50 each. During the year, the store purchased 7 at $3.00; 8 at $3.25, and 12 at $3.50. By the end of the year 31 sets were sold. Using the LIFO method, the cost of ending inventory is ___________.

1. $28.00
2. $12.00
3. $21.00
4. $3.50
5. None of these
Submitted: 6 years ago.
Category: Homework
Expert:  Bizhelp replied 6 years ago.
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