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A company had 22 units of inventory at a cost of $26 each on March 1. On March 2, the company purchased 27 units at $27 each. On March 6, the company purchased 23 units at $28 each. On March 8, the company sold 52 units for $71 each. Given this information, determine the cost of the 52 units sold using the LIFO periodic inventory method.
Disequilibrium
A market condition where there is a mismatch between the quantity supplied and the quantity demanded, preventing market equilibrium.
Government Intervention
The involvement by the government in the market to influence economic outcomes.
Economic Models
Simplified representations of complex economic processes or systems often used to analyze economic decisions, market outcomes, or to predict responses to changes in policy or external conditions.
Mexico
A nation situated in the southern part of North America, renowned for its vibrant cultural traditions, varied terrain, and importance in the economy.
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