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AOO Corporation uses the perpetual inventory system and had the following information available for 2019: Units Unit Cost Total Cost Jan 1 Beginning inventory 15
AOO Corporation uses the perpetual inventory system and had the following information available for 2019:
Units
Unit Cost
Total Cost
Jan
1
Beginning inventory
15
$4.00
$60
20
Purchase
60
4.40
264
21
Sale
65
-
-
Jul
25
Purchase
30
4.20
126
Oct
20
Purchase
45
4.80
216
Nov
15
Sale
75
-
-
Assume that the company uses the FIFO cost method. The value of the inventory after the Oct 20 purchase was
(Use unrounded numbers in your calculations but round your final answer to the nearest cent.)
Question 28 options:
$386.00
$277.65
$624.29
$398.25
None of the above
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