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Calculate the cost of ending inventory using the FIFO (First-In, First-Out) method for IBM Corporation, given the following data: Beginning inventory: $500,000 Purchases during the
Calculate the cost of ending inventory using the FIFO (First-In, First-Out) method for IBM Corporation, given the following data:
- Beginning inventory: $500,000
- Purchases during the year: $1,200,000
- Sales during the year: $1,000,000
- Ending inventory units: 1,000
- Cost per unit: $200
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Financial Accounting
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
11th edition
978-0134065830, 134065832, 134127625, 978-0134127620
