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What is the balance in the company inventory asset account

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Question - A company uses the FIFO cost flow assumption. The beginning inventory balance was zero. Below is showing inventory transactions for December 1995.

12/2: Purchase 125 units at $75

12/15: purchase 200 units at $74

12/16: purchase 375 units at $70

12/29 sale 640 units at $130

Required - What is the balance in the company's inventory asset account on December 31, 1995?

Reference no: EM132884323

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