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Requirements: Determine the value of ending inventory using the FIFO (First-In, First-Out) method, given the following purchases: January 1: 300 units purchased at $11 each

Requirements: Determine the value of ending inventory using the FIFO (First-In, First-Out) method, given the following purchases:

January 1: 300 units purchased at $11 each
February 1: 200 units purchased at $13 each
March 1: 100 units purchased at $16 each
Units sold during the period: 400 -

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