Frye Company uses the perpetual inventory system and the LIFO cost flow method. Frye purchased 50… 1 answer below »

Frye Company uses the perpetual inventory system and the LIFO cost flow method. Frye purchased 500 units of inventory that cost $4.00 each. At a later date, the company purchased an additional 600 units of inventory that cost $4.50 each. If Frye sold 800 units of inventory, the amount of ending inventory appearing on the balance sheet would be?

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