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A company has the following purchases and sales during October. Using the FIFO periodic Inventory method, what is the value of the Inventory on October
A company has the following purchases and sales during October. Using the FIFO periodic Inventory method, what is the value of the Inventory on October 15 after the sale? Date October 1 Activities Units Acquired at Cost Units Sold at Retail October 5 October 12 October 15 Beginning inventory Purchase Purchase Sales 15 units @ $12 = $180 10 units @ $13 = $130 20 units @ $14 = $280 30 units sold
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