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company had the following purchases and sales during its first year of operations: Purchases Sales January: 5 units at $90 6 units February: 15 units
company had the following purchases and sales during its first year of operations:
| Purchases | Sales |
January: | 5 units at $90 | 6 units |
February: | 15 units at $95 | 5 units |
May: | 10 units at $98 | 9 units |
September: | 15 units at $110 | 8 units |
November: | 12 units at $115 | 13 units |
On December 31, there were 33 units remaining in ending inventory. Using the Perpetual FIFO inventory valuation method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)
3,540 | ||
3,795 | ||
2,970 | ||
3,618 |
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