Staff Junket has the following inventory information:
July 1- beginning inventory: 22 units at $94
July 5- Purchases: 118 units at $88
July 14- Sale: 82 units
July 21- purchases: 56 units at $94
July 30- Sale: 51 units
Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis?
A: $5806
B: $5528
C: $5308
D: $5706
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