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What should be the inventory reported on the company

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Reference no: EM132494864

A company has the following data related to an item or inventory

Balance at July 1 -> 3,000 Units at 2.25 GBP

Purchase at July 6 -> 2,800 units at 2.55 GBP

Purchase at July 15 -> 5,400 Units at 2.60 GBP

Purchase at July 26 -> 1,200 units at 2.85 GBP

Inventory at July 31 -> 1,900 units

Question 1: What should be the inventory reported on the company's July 31 statement of financial position using FIFO?

A) 4,940 GBP

B) 4,275 GBP

C) 6,800 GBP

D) 5,240 GBP

Reference no: EM132494864

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