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Homework answers / question archive / Sheffield's Staff has the following inventory information

Sheffield's Staff has the following inventory information

Accounting

Sheffield's Staff has the following inventory information.

 

July 1 Beginning Inventory15 units at $925 Purchases121 units at $9314 Sale75 units21 Purchases63 units at $9030 Sale57 units

 

Assuming that a perpetual inventory system is used, what is the ending inventory on a FIFO basis?

 

$5822

$6042

$6018

$6320

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