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What is the value of ending inventory for may using a fifo

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Reference no: EM132735381

Beginning inventory, purchases, and sales for Item XJ-56 are as follows:

May 1 Beginning inventory 90 units @ $36 each

May 6 Sold 75 units @ $50 each

May 15 Purchased 125 units @ $38 each

May 24 Sold 80 units @ $51 each

Problem 1: What is the value of ending inventory for May using a FIFO inventory costing method in a perpetual inventory system?

Reference no: EM132735381

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