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Elly Company uses a periodic inventory system.Details for the inventory account for the month of January 2016 are as follows: Units Per unit price Total
Elly Company uses a periodic inventory system.Details for the inventory account for the month of January 2016 are as follows:
Units Per unit price Total
Balance 1/1/16 200 $500 $1000
Purchase 1/15/16 100 5.30 530
Purchase 1/28/16 100 5,50 550
An end of the month inventory showed that 150 units were on hand. If the company uses FIFO,what is the value of the ending inventory?
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