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LMN Corporation had the following inventory transactions during 2023: Transaction Description Quantity Purchased Unit Cost Beginning Inventory 100 units $50 Purchase #1 200 units $55



  • LMN Corporation had the following inventory transactions during 2023:

    Transaction DescriptionQuantity PurchasedUnit Cost
    Beginning Inventory100 units$50
    Purchase #1200 units$55
    Purchase #2150 units$60
    Sales300 units sold

    What is the value of LMN Corporation's ending inventory using the FIFO (First-In, First-Out) method?

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