Beginning inventory, purchases, and sales for Item MMM8 are as follows: November 1 Inventory 106 16 9
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Question:
Beginning inventory, purchases, and sales for Item MMM8 are as follows:
November 1 Inventory 106 16
9 Sale 94
16 Purchase 128 16
25 Sale 75
Assuming a perpetual inventory system and using the Last-in, first-out (FIFO) method, determine the inventory value on November 30.
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