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Desmarais Corporation uses the periodic inventory system and had the following inventory information available for 2019:
Units
Unit Cost
Total Cost
Jan
1
Beginning inventory
15
$4.00
$ 60
20
Purchase
60
4.40
264
Jul
25
30
4.20
126
Oct
45
4.80
216
150
_
$666
A physical inventory count on December 31 showed that there were 50 units on hand.
Question 1: Assume that the company uses FIFO. The value of the ending inventory as at December 31, 2019 is (Use unrounded numbers in your calculations but round your final answer to the nearest cent.)
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