Question: Simple Plan Enterprises uses a periodic inventory system. Its records showed the following: Inventory, December 3 1 , using FIFO 6 2 Units @ $

Simple Plan Enterprises uses a periodic inventory system. Its records showed the following:
Inventory, December 31, using FIFO 62 Units @ $26=$1,612
Inventory, December 31, using LIFO 62 Units @ $22=$1,364
\table[[Transactions in the Following Year,Units,Unit Cost,Total Cost],[Purchase, January 9,74,27,$1,998
Simple Plan Enterprises uses a periodic inventory system. Its records showed

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