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A company just starting business made the following purchases in August: A physical count of the inventory on August 31 reveals that there are 500

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A company just starting business made the following purchases in August: A physical count of the inventory on August 31 reveals that there are 500 units on hand. Using the FIFO inventory method in a perpetual inventory system, how much is the value of the ending inventory on August 31 ? $3,240 $5,670 $2,730 $5,160

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