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What was the value assigned to the closing stock

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Reference no: EM132939934

Question - Indigo Ltd uses the FIFO assumption with the periodic inventory method.

 

Units

Unit cost

Total cost

Beginning inventory

12

$10

$120

Purchase

10

$12

$120

Purchase

6

$11

$66

Sales during year were 16 units. What was the value assigned to the closing stock of this item at the end of the period?

Reference no: EM132939934

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