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Homework answers / question archive / The inventory records for Cookie Co
The inventory records for Cookie Co. reflected the following:
Beginning Inventory @ July 1
200 units @ $1.00
First Purchase @ July 8
300 units @ $1.10
Second Purchase @ July 15
400 units @ $1.20
Third Purchase @ July 26
100 units @ $1.30
Sales @ July 31
800 units @ $1.50
Determine the amount of ending inventory assuming the FIFO cost flow method.
$130
$200
$250
$100
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