(Y) uses the FIFO method in computing its inventory. On January 1, 2018, its beginning inventory of...

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\(Y\) uses the FIFO method in computing its inventory. On January 1, 2018, its beginning inventory of 3,500 units consisted of the following:

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During 2018, Y purchased the following units:

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During 2018, it sold 2,300 units. What is the value of its ending inventory?

a. \(\$ 13,300\)

b. \(\$ 15,300\)

c. \(\$ 19,900\)

d. \(\$ 22,900\)

e. None of the above

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CCH Federal Taxation 2019 Comprehensive Topics

ISBN: 9780808049081

2019 Edition

Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback

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