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Peter's company made the following merchandise purchases during the current year. Feb 2- 25000 units @ $42 each Apr. 8- 5000 units @ $39 each
Peter's company made the following merchandise purchases during the current year.
Feb 2- 25000 units @ $42 each
Apr. 8- 5000 units @ $39 each
may 30- 18500 units @ $ 40 each
Aug 2 - 9000 units @ $41 each
There was no beginning inventory. If Peter uses, first in, first out method and ending inventory consisted of 12000 units, what is the cost of the ending inventory. I don't know how to calculate this problem. Please help
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