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the following blood of commodity they were available for sale during the year beginning inventory was 12 units and $48 first purchase 17 units at 50 $3 second purchase 27 units at 55 hours their purchase 15 units at 58 dollars The firm uses the periodic system and there are 26 units of the commodity on hand at the end of the year what is the ending inventory balance end of the year according to the fifo method.

the following blood of commodity they were available for sale during the year beginning inventory was 12 units and $48 first purchase 17 units at 50 $3 second purchase 27 units at 55 hours their purchase 15 units at 58 dollars The firm uses the periodic system and there are 26 units of the commodity on hand at the end of the year what is the ending inventory balance end of the year according to the fifo 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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the following blood of commodity they were available for sale during the year beginning inventory was 12 units and $48 first purchase 17 units at 50 $3 second purchase 27 units at 55 hours their purchase 15 units at 58 dollars The firm uses the periodic system and there are 26 units of the commodity on hand at the end of the year what is the ending inventory balance end of the year according to the fifo method.
Transcribed Image Text:the following blood of commodity they were available for sale during the year beginning inventory was 12 units and $48 first purchase 17 units at 50 $3 second purchase 27 units at 55 hours their purchase 15 units at 58 dollars The firm uses the periodic system and there are 26 units of the commodity on hand at the end of the year what is the ending inventory balance end of the year according to the fifo method.
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