Question: Southeast Inc. has maintained a periodic inventory system and the LIFO inventory method for 3 years. The earliest layers of LIFO inventory is from year

Southeast Inc. has maintained a periodic inventory system and the LIFO inventory method for 3 years. The earliest layers of LIFO inventory is from year 1. The company had beginning inventory at January 1, 2021, consisting of three layers: Price/Unit 2018: 2019: Quantity 150,000 units 80,000 units 15,000 units 245,000 units $10.00 $12.00 $14.00 2020 Total During 2021, an involuntary liquidation of Inventory occurred. Ending Inventory dropped to 210,000 units. This is an example of Question 3 options: A. Dollar Value LIFO B. LIFO Liquidation CLIFO Reserve D. Inventory Errors

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