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Ivanhoe Company uses the periodic inventory system to account for inventories. Information related to Ivanhoe Company's inventory at October 31 is given below: October (a)
Ivanhoe Company uses the periodic inventory system to account for inventories. Information related to Ivanhoe Company's inventory at October 31 is given below: October (a) 1 Beginning inventory Purchase 8 16 24 (c) Purchase Save for Later Purchase Ending inventory 344 units @ $11.00 688 units @ $12.00 = 516 units @ $13.00 172 units @ $14.00 Total units and cost 1,720 units $ = = $3,784 8,256 Value the ending inventory using the FIFO cost assumption if 510 units remain on hand at October 31. 6,708 2,408 $21,156 Attempts: 0 of 2 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above. Submit Answer
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