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1. Rudolf Diesel Company's inventory records show the following data: Units Unit Cost Inventory, January 1 5,000 $9.00 Purchases: June 18 4,500 8.00 November 8
1. Rudolf Diesel Company's inventory records show the following data: Units Unit Cost Inventory, January 1 5,000 $9.00 Purchases: June 18 4,500 8.00 November 8 3,000 7.00 A physical inventory on December 31 shows 3,000 units on hand. Under the FIFO method, the December 31 inventory is
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Accounting
Authors: Carl S. Warren, James M. Reeve, Philip E. Fess
20th Edition
0324025424, 978-0324025422
