What is the cost of the ending inventory at December 31, 2014 under dollar-value LIFO?
24) Goods in transit which are shipped f. o. b. destination should be
24) Milford Company had 400 units of ― Tank ‖ in its inventory at a cost of $ 6 each. It purchased 600 more units of ― Tank ‖ at a cost of $ 9 each. Milford then sold 700 units at a selling price of $ 15 each. The LIFO liquidation overstated normal gross profit by