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calculate the cost of ending inventory using the FIFO costing method:

calculate the cost of ending inventory using the FIFO costing method:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ers the question. 6) Given the following data, calculate the cost of ending inventory using the FIFO costing method:6) 1/1 Beginning inventory 45 units at $10 per unit 2/25 Purchases 40 units at $12 per unit 6/15 Purchases 30 units at $13 per unit 9/20 Purchases 25 units at $14 per unit 12/31 Ending inventory 40 units C) $480 D) $545 A) $560 B) $400
Transcribed Image Text:ers the question. 6) Given the following data, calculate the cost of ending inventory using the FIFO costing method:6) 1/1 Beginning inventory 45 units at $10 per unit 2/25 Purchases 40 units at $12 per unit 6/15 Purchases 30 units at $13 per unit 9/20 Purchases 25 units at $14 per unit 12/31 Ending inventory 40 units C) $480 D) $545 A) $560 B) $400
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