Question: Given the following information, calculate the amount by which net income would differ between FIFO and LIFO. Assume the periodic system. Beginning inventory .......3,000 units

Given the following information, calculate the amount by which net income would differ between FIFO and LIFO. Assume the periodic system.

Beginning inventory .......3,000 units at $100 per unit

Purchases ..........8,000 units at $130 per unit

Units sold ............6,000 units at $225 per unit


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