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Please help fill out the chart. A company reports the following beginning inventory and purchases for the month of January. On January 26, the company
Please help fill out the chart.
A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 260 units. 120 units remain in ending inventory at January 31. |
Units | Unit Cost | ||
Beginning inventory on January 1 | 230 | $ | 2.10 |
Purchase on January 9 | 50 | 2.30 | |
Purchase on January 25 | 100 | 2.44 | |
Assume the periodic inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. (Round your per unit costs to 2 decimal places.)
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