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Question #7: (3 marks) You have the following data related to product 123: Inventory, January 1 100 units @ $7.00 Purchase, January 9 200 units

Question #7: (3 marks) You have the following data related to product 123: Inventory, January 1 100 units @ $7.00 Purchase, January 9 200 units @ $9.60 Purchase, January 19 150 units @ $7.80 Inventory, January 28 200 units Instructions Using the FIFO cost formula, what value should be assigned to the ending inventory of item 123?

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