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Determine the inventory cost using the first-in-first-out

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Reference no: EM133001451

Question - The units of an item available for sale during the year were as follows: Jan 1 Inventory 22 units at 121 April 15 Purchase 131 units at 114 September 9 Purchase 27 units at 119. There are 45 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the first-in, first-out (FIFO).

Reference no: EM133001451

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