FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The units of an item available for sale during the year were as follows:
Jan 1 Inventory 21 units at 126 April 15 Purchase 142 units at 117 September 9 Purchase 20 units at 126
There are 45 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the first-in, first-out (FIFO)
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