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Bonita Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows: Balance, 1/1/20 Purchase,
Bonita Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows: Balance, 1/1/20 Purchase, 1/15/20 Purchase, 1/28/20 Units 220 $4.00 100 Per unit price 100 5.10 5.60 Total $880 510 560 An end of the month (1/31/20) inventory showed that 160 units were on hand. If the company uses FIFO, what is the value of the ending inventory?
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M
5th Canadian edition
9781259105692, 978-1259103285
