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A company's inventory records report the following: On August 15, it sold 30 units. Using the FIFO perpetual inventory method, what is the value of
A company's inventory records report the following: On August 15, it sold 30 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale? $140 $160 $210 $380 $590 Question 15 (0.8 points) Source documents: Are input devices. Provide the information processed by an accounting system. Cannot be electronic files or web communications. Store processed information for future use. Convert information to the system's processing component. Question 16 (0.8 points) Information storage databases: Eliminate the need for professional judgment. Are relied on by auditors of the financial statements. Should not be cloud based. Capture information from source documents. Need not be accessible once data is processed
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