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Sheffield's Staff has the following inventory information
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
Expert Solution
So, the correct option is 2nd "$6,042".
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