Problem: ABC Company employs a periodic inventory system and sells its inventory to customers for $15 per unit. ABC Company had the following inventory information available for the month of May: Calculate the amount of  net income reported on ABC Company's income statement for May using the LIFO method.

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ABC Company employs a periodic inventory system and sells its inventory to customers for $15 per unit. ABC Company had the following inventory information available for the month of May:

Calculate the amount of  net income reported on ABC Company's income statement for May using the LIFO method.

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