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Novak Sports began operations on January 2 , 2 0 2 5 . The following stock record card for footballs was taken from the records
Novak Sports began operations on January The following stock record card for footballs was taken from the records at the
end of the year.
A physical inventory on December reveals that footballs were in stock. The bookkeeper informs you that all the
discounts were taken. Assume that Novak Sports uses the invoice price less discount for recording purchases.
Compute the december inventory using FIFO method
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