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Ending inventory using the fifo method

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Space Corp. uses the periodic inventory system. During its first year of operations, Space Corp made the following purchases:

January 3rd: 50 units at $90

March 2nd: 60 units at $80

September 1st: 170 units at $60

Sales for the year totaled 250 units, leaving 30 units on hand at the end of the year.

Ending inventory using the FIFO method is:

Reference no: EM133234286

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