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The interest on a $4000 6% 60-day note receivable isA) $240.B) $40.C) $80.D) $120.Alpha First Company just began business and made the following fourinventory purchases in June:A physical count of merchandise inventory on June 30 reveals thatthere are 200 units on hand. Using the LIFO inventory method thevalue of the ending inventory on June 30 isA) $1040.00B) $1072.50C) $1305.00D) $1320.00