Maddox Company uses the perpetual inventory method. Maddox purchased 500 units of inventory that cost $2.00 each. At a later date the company purchased an additional 600 units of inventory that cost $2.50 each. If Maddox uses a LIFO cost flow method, and sells 800 units of inventory, the amount of ending inventory appearing on the balance sheet will be: $1,900. $675. $600. $750.
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