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What tuco balance sheet will report inventory of

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Reference no: EM132877392

TuCo, which uses the periodic method and FIFO costing, makes the following purchases during the year:

March: 700 widgets at $7 each

June: 900 widgets at $8 each

September: 100 widgets at $10 each

Problem 1: If a year-end physical count shows 400 widgets on hand, TuCo's balance sheet will report inventory of:

Option 1: $2,800
Option 2: $3,059
Option 3: $3,400
Option 4: $3,300

Reference no: EM132877392

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