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 Sales during the year were 500 units Beginning inventory was 250 units at a cost of $5 per unit

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 Sales during the year were 500 units Beginning inventory was 250 units at a cost of $5 per unit. Purchase I was 400 units at $6 per unit Purchase 2 was 200 units at $7 per unit Ending inventory under the FIFO cost flow assumption using a periodic inventory system was Multiple Choice $3,650 31050 $2.750 $2.300