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FIFO means First-In, First-Out, so the ending inventory cost would come from the goods purchased later. So the two units would be assigned a cost
FIFO means First-In, First-Out, so the ending inventory cost would come from the goods purchased later. So the two units would be assigned a cost of $16.00 (1 unit at $10 plus 1 unit at $6.00). So...
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